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plus an exclusive ivg interview with ed bastian, ceo.s we head to a break, we'll look at yesterday's winners and losers. >> announcer: winners and losers is sponsored by state street global advisers. ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ [thunder rumbles] ♪ ♪ >>> welcome back to "squawk box." delta air lines just reporting its quarterly numbers, and phil lebeau joins us now because he's got them. phil, in front of a delta plane, no less. >> reporter: proper backdrop for talking with ed bastian. let's go over the numbers from the first quarter. this is the beat on the line for the first quarter. revenue coming in just shy of estimates at 12.56 billion. the street was at 12.5 billion. the numbers within the numbers? passenger revenue versus seat mile, flat. domestic revenue per seat finally swung positive. it had been negative for a number of quarters. up 1.5%. 3.3 versus 3.89 in 2023. the company knows it
plus an exclusive ivg interview with ed bastian, ceo.s we head to a break, we'll look at yesterday's winners and losers. >> announcer: winners and losers is sponsored by state street global advisers. ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ [thunder rumbles] ♪ ♪ >>> welcome back to "squawk box." delta air lines just reporting...
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in fact, this is really what the ceo ed bastian had to say when he sees the second quarter and beyond>> we had a great quarter. the team delivered a solid set of results. demand is strong. set another record. if you look at the forward view, which i know you will ask me about, we had the calendar year, the 11 highest sales day this year alone. the operational results have been excellent. not just back to pre-pandemic levels, but ahead of pre-pandemic levels. >> the company, of course, was less effected by the boeing issues with the production cuts as well as being grounded by the faa because delta airlines has no 737 max jets in its fleet. it placed an order of 100 737 max 10 jets. in 2022, they made fresh orders. only about half of the main line jets are made from boeing when you compare it to united and southwest, united has 80% of boeing fleet and southwest with 100% of the planes from boeing. it's a really big question of safety on the back of boeing particularly this year. really for the last number of years especially. this is what the ceo of delta airlines had to say with regar
in fact, this is really what the ceo ed bastian had to say when he sees the second quarter and beyond>> we had a great quarter. the team delivered a solid set of results. demand is strong. set another record. if you look at the forward view, which i know you will ask me about, we had the calendar year, the 11 highest sales day this year alone. the operational results have been excellent. not just back to pre-pandemic levels, but ahead of pre-pandemic levels. >> the company, of...
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. >> that was delta's ceo, ed bastian, discussing the state of business travel with phil lebeau.t was an interview earlier on "squawk box." the airline did post quarterly results that were above analyst estimates. it is forecasting strong summer travel demand. i thought that was interesting, jim. it was a question we asked so often during the course of the pandemic and since then, would business travel ever, ever get back to the level? he's saying, dollar-wise, i believe it has. >> stock is up $2.50 when phil interviewed mr. bastian, and delta's really on its game. there's some -- there are actually a lot of different -- dispersion among the airlines about who's doing a good job. there's disarray among the spirit, jetblue, not clear whether united is momentum. southwest air is, unfortunately, really bad, and delta has shined here, and that's because it's really well run, and i applaud mr. bastian. he's done a great job. that stock will be down today. that's the kind of thing i'm looking at. all the analysts tomorrow will come out and recommend it, and it's got a good model. pilot
. >> that was delta's ceo, ed bastian, discussing the state of business travel with phil lebeau.t was an interview earlier on "squawk box." the airline did post quarterly results that were above analyst estimates. it is forecasting strong summer travel demand. i thought that was interesting, jim. it was a question we asked so often during the course of the pandemic and since then, would business travel ever, ever get back to the level? he's saying, dollar-wise, i believe it has....
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ed bastian talked about it with phil today. what's up? >> profit taking. stop, steve. >> somebody sold it. >> shush. >> taken a profit. >> stop generating 1.4 billion free cash flow, paid down 700 million of debt. on track to pay down debt this year. the stock is up 16%. it's up 30% in six months and, again, apropos of what we were talking about at the beginning, before the cpi, the stock was up 5%. they get incremental data. maybe that increases the chance of a recession longer. let me be blunt, folks, this is an opportunity to buy delta. we talked about this being a trade. it's a trade that's languished for a long time. it's going to go higher. >> any rebuttal? it's no accident we sat you next to each other. >> i'm confused jimmy came in want to go buy higher and now they're lower he doesn't want to buy them. i'm trying to work that out in the a block. >> are you being purposely dense? >> that was a good one. >> we'll let the audience vote. >> taiwan semi, better increase in march sales. the fastest pace in a year, you own that one. >> i do. i'm waiting
ed bastian talked about it with phil today. what's up? >> profit taking. stop, steve. >> somebody sold it. >> shush. >> taken a profit. >> stop generating 1.4 billion free cash flow, paid down 700 million of debt. on track to pay down debt this year. the stock is up 16%. it's up 30% in six months and, again, apropos of what we were talking about at the beginning, before the cpi, the stock was up 5%. they get incremental data. maybe that increases the chance of a...
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this is from ed bastian of delta speaking to bloomberg. expecting no let up in demand.t we heard from george ferguson. it is such a bifurcated economy and somebody different ways. splintered in terms of who has money and who was spending and who doesn't. what does the fed pay attention to? is cpi going to call their hand when they look at the weakness we are seeing in small businesses with consumer to lincoln sees and the other metrics people are pointing to? jonathan: delta airlines is making money. the estimate is 223. annmarie: it's people sitting in the front versus people in the back. i go back to the small business survey. a chief economist said inflation once again top of the issue to mainstream businesses. that goes into the cpi report today. lisa: this raises the question about whether inflation will call the fed's hand. pockets of strength and pockets of weakness. are they going to be paying more attention to the inflation side of the mandate, or is the priority on the strength of the economy and the idea of employment remaining resilient for longer? that is w
this is from ed bastian of delta speaking to bloomberg. expecting no let up in demand.t we heard from george ferguson. it is such a bifurcated economy and somebody different ways. splintered in terms of who has money and who was spending and who doesn't. what does the fed pay attention to? is cpi going to call their hand when they look at the weakness we are seeing in small businesses with consumer to lincoln sees and the other metrics people are pointing to? jonathan: delta airlines is making...