after a 3 year hiatus due to the pandemic, it kicked off with a major deal announced between delta airlines and the american aircraft maker. boeing. delta said the order for $100.00. boeing 737 max 10 aircraft will help modernize its fleet and that it expects the max plans to reduce the fuel consumption by 20 to 30 percent. the order is great news for boeing, which has recently struggled to compete with his european rival, airbus while for more on the steel, i want to go to our correspondent at the new york stock exchange, jens corta. now jens boeing has really struggled to keep up with air bus after it's max 8 was involved in deadly crashes in 2018. 2019. now this delta deal is the latest in a series of $737.00 orders. does this mean boeing is finally moving past those crashes? well, chrissy, it definitely is around coming. you is so there is no doubt about it, especially as delta has not ordered any plane from boeing for quite some time. and the last figures order is about more than 10 years ago. and also what is quite the thing is that we see the big order. despite that those mac 10 play

tonight, delta airlines loading one of its planes entirely with lost luggage. 1,000 bags from heathrow back to detroit. the lug answer now will be sent passee heatti sug >>> and keep an eye on the sky tonight. the bucks super moon filling the sky. the biggest super moon of the year will be visible in the southeast sky. a super moon happens when a full moon's orbit makes it closer to earth, making it appear bigger and brighter than normal. >>> when we come back here tonight, the 82nd airborne and a performance unlike anything you've seen from them. 100% steroid free. not an injection, cibinqo is a once-daily pill for adults who didn't respond to previous treatments. and cibinqo helps provide clearer skin and less itch. cibinqo can lower your ability to fight infections, including tb. before and during treatment, your doctor should check for infections and do blood tests. tell your doctor if you've had hepatitis b or c, have flu-like symptoms, or are prone to infections. do not take with medicines that prevent blood clots. serious, sometimes fatal infections, lym

tonight, delta airlines loading one of its planes entirely with lost luggage. en piling up at london's heathrow airport. the airline flying 1,000 bags from heathrow back to detroit. the luggage now will be sent to passengers. heathrow, though, still struggling, asking airlines to stop selling tickets through heathrow until at least mid-september. >>> and keep an eye on the sky tonight. the buck super moon filling the sky this evening. the biggest super moon of the year will be visible in the southeast sky just after sunset. ed a super moon, of course, happens, when a full moon's orbit makes it closer to earth, making it appear bigger and brighter than normal. >>> when we come back here tonight, the 82nd airborne and a performance unlike anything performance unlike anything you've seen from them. this is the moment. for a treatment for moderate-to-severe eczema. cibinqo — fda approved. 100% steroid free. not an injection, cibinqo is a once-daily pill for adults who didn't respond to previous treatments. and cibinqo helps provide clearer skin and less itch. cibinq

as far as this weekend, it's a broader issue that's responsible airline scheduling. we urged deltaanagement not to overschedule airline counting on us flying records amount of overtime. this weekend i can't preduict hw it's going to go. there's challenges out there. if delta pilots are there to get our passengers safely to our dust nation as we can. >> we understand your perspective that the pilots have been stretched thin. obviously there's weather and other contributing factors, but overall, what would you say is the biggest issue? what is creating all of the strain that we've been seeing in the airline industry? >> quite frankly it's irresponsible scheduling, overscheduling. when coming out of the pandemic, we're scheduling more flights than we have people to fly them, quite honestly. the pilots are used to flying overtime in the summer ttime to help. it's been other a year now when we've been pressed to the limit of flaying as much as they possible can. more time away from their family out there trying to get our passengers to their destinations. it's just -- can't be sustained

topsy turvy travel season, you might be able to make money just by not traveling. passengers with delta airlines said they were offered $10000.00 to leave an overbooked flight from grand rapids michigan to minneapolis. crew member announcing over the planes p a system that they were looking for 8 passengers to give up their seats. initially, delta offered $5000.00, but it later increased back to $10000.00, a spokesman for the airline would not comment on the cash offer. but did confirm that airline staff have the authority to offer compensation sounds good to me. or here's reminder of the top business story. we're following this. our inflation in turkey has reached nearly 80 percent annually and june. that's according to official data provided by the turkish statistics institute. and that's it for me. and the dw business team, you can find out more about these and other stories online, d, w dot com slash business. we're also on you to check us out at the d. w at news channel. i'm seeing beardsley watching through head back to the 17th century. once a year, the french castle v current opens its d

a number of banks reporting and delta airlines as well with the travel chaos around the world in the last weeks >>> turning to currency markets. the dollar this morning. this is the look at the tech names in asia. we saw heavy selling in the stocks overnight now we have currencies for you we have sterling on the back foot versus the do llar 11 1. 1. 1.1976 >>> a week start to trade on wall street. all three majors are pointing lower. dow jones industrial average down 175 points. nasdaq down 90 points. we are in for a weak start to trade after the strong trade on wall street last week. >>> well, 11 contenders have come forward in the race to replace prime minister boris johnson. leading the field with more than 25 endorsements so far from his fellow mps the conservative back bench mps is due to decide the leadership table this evening with the number of candidates expected to be whittled down to two before parliament breaks next friday. tory parliament members will vote before november let's get to steve sedgwick for latest steve, so many have thrown their hats in the ring they were o

since the pandemic devastated the industry, the seo of delta airlines apologize this week for recent summer travel disruption me. while u. s. allies cancelled or delayed 21000 flights during recent memorial day. and june team holidays. shortage of pilots and other aviation workers laid off during the pandemic and staff sicknesses due to coven, 19 ost stretching flight schedules. to breaking point on the slides crossed to our financial correspondent in new york. teddy australia. teddy, how well prepared? ah airlines, in the us for the weekend ahead? well, what is there to say, rob 12300000 people were trying to go on vacation and the u. s. airlines are completely unprepared if we see anything like the cancellations we saw during memorial day weekend. tens of thousands of people could be stranded for a day or more on the way to where they're going. let's remember, there was a 54000000000 dollar bail out of the industry in 2020, and there was a condition not to lay off workers. while these airlines were heavily indebted and they were looking for profits. so they found a loophole. furlow

since the pandemic devastated the industry, the seo of delta airlines apologize this week for recent summer travel disruption me. while u. s. allies cancelled or delayed 21000 flights during recent memorial day and june . 18th holidays shortage of pilots and other aviation workers laid off during the pandemic and staff sicknesses due to coven, 19 ost stretching flight schedules, to breaking point on this dice. cross to our financial correspondent in new york. teddy austro at teddy. how well prepared? ah airlines, in the u. s. for the weekend ahead? well, what is there to say rob 12300000 people were trying to go on vacation and the u. s . airlines are completely unprepared if we see anything like the cancellations we saw during memorial day weekend. tens of thousands of people could be stranded for a day or more on the way to where they're going. let's remember, there was a 54000000000 dollar bail out of the industry in 2020, and there was a condition not to lay off workers. while these airlines were heavily indebted and they were looking for profits. so they found a loophole followi

delta airlines says it's expecting operational challenges over the holiday. nearly 400 flights have been canceled today with additional flights delayed. aaa predicts 40 million people will be driving this weekend and over 3.5 million people flying. >> reporter: millions of passengers are descending on airports along with summer storms, putting short-staffed airlines to their biggest test in years. the tsa screened 2.44 million passengers at u.s. airports on thursday, just shy of a new pandemic-era record. >> it feels much more like 2019 than the prior two years. >> reporter: although with problems for passengers. 3.5% of all flights this year have been canceled. a 42% increase over 2019. >> to go the earliest time as possible. >> reporter: airlines are facing a range of challenges at the carrier and federal government level. this week, airlines pointed to air traffic control delays, caused by staffing issues at a key facility in florida. who is to blame when it comes to the massive cancellations? >> the bottom line here is airlines who are selling their ticke

delta airlines says it's in a unique position. the most troubling time, they say in a long time according to delta's ceo, delta has offered a waiver to all of its passengers flying today through july 4th, allowing them to change their flights and their tickets completely free of charge if they want to. a bit of a win for airlines, although for passengers, although a bit of an admission by delta that things could get worse before they get better. >> and pete, i always look for the silver lining. we're hearing about a $10,000 perk perhaps as well? >> yeah. you know, airlines are smaller. there are fewer planes and routes. and they're overbooking flights. we keep hearing about this. this flight, earlier this week, between minneapolis and grand rapids. it was on its way from grand rapids to minneapolis. passengers were offered up to $10,000 by delta to give up their seat on the flight. you know, it's a pretty anomalous kind of thing. it doesn't happen all the thing. the thing we keep telling folks is to try to book a direct flight, if

delta airline is going so far as insentivizing its passengers to avoid this weekend's travel mess.iver now through july 4th letting passengers rebook their flights completely free of charge. >> thank you, pete. let's talk more about david who is an airline business reporter with the points guy. he joins me live. you crunched numbers on the airlines with the most cancellations and delays this sirm. what did you find? >> one of the biggest findings is things actually aren't quite as bad as it sounds. moe flights are getting out. that's the good news. the bad news is that cancellations are in fact up over normal summer. they are happening lot for frequently than normal. there's regional airlines that operate smaller flights from smaller cities, immediate yum cities to hubs and large erp cities. the bad news also is that we're seeing just a ton of delays. really way more than normal. routinely 20 to 30% of flights are being delayed. some days that worse. that means lot more misconnections. they can't get on the next flight because it's full. it's just really creating havoc throughout t

delta airlines up 2% after a pretty unwelcome first half of the year. united basically flat.can air up .4%. how much can they continue to gain given what we have seen. you raise this question earlier. i think is a good one. jonathan: you are living it with delta. we are talking about the same thing. can you repeat the act through the year? the revenge travel, the revenge spending, connect go on through the rest of the year? lisa: i've heard anecdotally that it is softening. tom, perhaps you have another take? tom: i saw the headline and i think it is american airlines offering pilots a 70% pay increase. that is the only way they will fix this. they have to pay people more. jonathan: it is not just about the price. the onboarding process for this industry for things like security passes and training, it is a big deal and takes a long time. tom: i did a short flight. i think the pilot was 18 years old. jonathan: what flight was that? tom: they are making a cocktail waitress salary. jonathan: you want to share what flight that was? one of the private islands in hawaii. it is a d

. >>> delta airline pilots across the country held a protest to voice their concerns over failed contract negotiations. they have been trying since 2019. they served as front-line workers during the pandemic doing overtime to make sure flights were safe and successful. they want to be compensated with an industry-leading contract. you are up for a busy holiday weekend if you are flying. >>> here is a live look, they are gearing up for a busy holiday weekend. delta had an operational challenge this weekend. if you don't want the headache of flying, a lot of people are driving to their fourth of july destinations. 42 million people will be on the road this holiday weekend. that is more than last year, according to aaa. >> it's her birthday so we were like, you know what, we're just going to drive. >> an average gallon of gas is just under five dollars. i wish that's what it was here. regular here is $6.28. >> you don't need to go anywhere, stay home, the weather is going to be perfect. >>> we have ocean temperatures and cool air. eventually we have cooling temperatures towards the weekend.

trend that is expected to get worse over the fourth of july weekend because of a pilot strike by delta airlinesat seven major airports. >> the airlines don't have enough staff. pilots, flight attendants, curbside check-in people, tsa security folks. i mean everyone is shortstaffed. >> he says the airline industry is basic -- facing challenges on a scale it has never seen before. >> if anything goes wrong like a thunderstorm, it's a domino effect. it ends up being chaos. >> some passengers say they are worried about their own travel plans. some even receiving alerts like this one from airlines warning them to arrive with plenty of time to spare. sarah says she came four hours early. >> i've been warmed by my family that there have been delays this past week and because of the holiday weekend. i wanted to make sure that i was here. >> the cancellation rate six around one point -- 1.4%. depending on where you are flying to come experts say that might not always be the case. >> we have to be really patient and understanding right now. >> tim johns reporting. if you are staying home this weekend, th

of delta airlines is apologizing to customers. situation's so dire, the company is taking employees with office jobs and sending them to the ticket counter to check bags. cbs's errol barnett is going to start us off tonight from a busy reagan national airport. good evening, errol. >> reporter: hey there, norah, good evening. cancellations are stacking up across the country tonight as u.s. airlines continue to struggle to serve their own customers. typically, flyers are concerned that their flights won't take off on time, but these days, more and more passengers are worried their flights won't take off at all. at airports nationwide tonight, the holiday rush became holiday hurry-up-and-wait. >> gave myself a full two hours, because i wanted to make sure we had time to get to our gate. >> reporter: airports are already seeing a steady flow of passengers. the t.s.a. reports more than two million have passed through checkpoints most days this month, as flight traffic approaches pre-pandemic levels. >> planes are full, absolutely fll.

trend that is expected to get worse over the fourth of july weekend because of a pilot strike by delta airlinesor airports. >> the airlines don't have enough staff. pilots, flight attendants, curbside check-in people, tsa security folks. i mean everyone is shortstaffed. >> he says the airline industry is basic -- facing challenges on a scale it has never seen before. >> if anything goes wrong like a thunderstorm, it's a domino effect. it ends up being chaos. >> some passengers say they are worried about their own travel plans. some even receiving alerts like this one from airlines warning them to arrive with plenty of time to spare. sarah says she came four hours early. >> i've been warmed by my family that there have been delays this past week and because of the holiday weekend. i wanted to make sure that i was here. >> the cancellation rate six around one point -- 1.4%. depending on where you are flying to come experts say that might not always be the case. >> we have to be really patient and understanding right now. >> tim johns reporting. if you are staying home this weekend, there are many

. >> reporter: delta airlines has been leading the pack of major airlines when it comes to huge cancellations. it's bracing for more cancellations as the weekend goes on. it just issued a travel waiver to all of its passengers systemwide, allowing them to change their flights completely free of charge now through july 4th. delta airline ceo ed bastian sent an email to all delta customers last night saying this environment is like nothing we have ever seen. victor, alison. >> leyla, tell us what you're seeing with drivers and gas prices. >> reporter: some of them are actually impacted by what pete just talked about, folks that do not want to deal with the headaches from the airports and , instead, they're hitting the road. we're expecting nearly 48 million people, as victor mentioned, to drive more than 50 miles for the holiday weekend. that's an increase from last year. it's actually record breaking, according to aaa. still, even though we're seeing more people out, that doesn't mean they're worried or frowned upon or rolling their eyes, as you see any time you mention gas prices. right now w

but there may be some turbulence in the skies delta airlines warning of operational challenges, they're calling it, as pilots hit picket lines across the country the airline is waiving rebooking fees ahead of the travel surge as it continues to face staffing struggles. >> reporter: walking information picket line, off-duty delta pilots in contract talks say they're working excessive overtime as they try to fly without enough pilots. >> working as hard as we can >> reporter: delta, united and american have struggled since memorial day more than 3,000 total cancellations just since sunday morning. >> we don't have a lot of money. we don't have a lot of time. when you do that, there goes your vacation. >> reporter: in an e-mail to customers, delta ceo said this level of uncertain city unacceptable meanwhile, the faa identifying volatile weather again leading to more delays and cancellations. >> today airlines are carrying the highest numbers of passengers since early 2020. >> reporter: but the vast majority of americans, 42 million, are driving this weekend, a new record, and paying record

delta airlines says it is a difficult situation for travelers. >> we have had a rough six week. no questions about that. compensation and appropriate levels. >> they can do a few things to avoid travel hassles. what you need to know before your trip if you have travel plans to keep intact. >>> more fallout from subway's tuna fish debacle. it's claimed that it's tuna is 100% tuna. >>> 140 bucks for a restaurant to deliver. i am consumer investigator chris. nbc bay area responds, next. >>> i am chief meteorologist jeff ranieri. that fog is rolling back into san wanna help kids get their homework done? well, an internet connection's a good start. but kids also need computers. and sometimes the hardest thing about homework is finding a place to do it. so why not hook community centers up with wifi? for kids like us, and all the amazing things we're gonna learn. through project up, comcast is committing $1 billion dollars so millions more students can continue to get the tools they need to build a future of unlimited possibilities. >>> for a second year in a row, the five largest pla

of delta airlines is apologizing to customers.ituation, so dire, the company is taking employees with office jobs and sending them to the ticket counter to check bags. cbs's errol barnett is going to start us off tonight from a busy reagan national airport. good evening, errol. >> reporter: hey there, norah, good evening. cancellations are stacking up across the country tonight as u.s. airlines continue to struggle to serve their own customers. typically, flyers are concerned that their flights won't take off on time, but these days,'t n time but the more and more passengers are worried their flights won't take off at all. at airports nationwide tonight, the holiday rush became holiday hurry-up-and-wait. >> gave myself a full two hours, because i wanted to make sure we had time to get to our gate. >> reporter: airports are already seeing a steady flow of passengers. the t.s.a. reports more than two million have passed through checkpoints most days this month, as flight traffic approaches pre-pandemic levels. >> planes are full, ab

nextep, delta airlines, set to report on wednesday, julie, i don't know if you have been flying lately but oh my gosh, what a nightmare. we are talking about stocks, julie, what is your take? >> there is no bigger hype girl than me when it comes to delta. the operation. but, delta the stock is probably not for me. i think what we have been seeing is, look, it is full on planes. i just flew and it is absolutely full for summer vacations but those are not business travelers and they are not paying the full fair that we do. the fact of the matter is, we are just not going to be traveling as much for business, as we used to. we have all figured out how to do it. i go on 15 trips per year and i'm on five or six now. travel is what really keeps that plane flying. it is so much more laughable. i think, long term, this is not a great stock to own, but the operation is very well-run. >> that makes a lot of sense. i am very interested in hearing what they have to say about the consumers and their expectations for consumer travel and business. tim, what do you think? traded or fade it? you like d

one airline is handing out major paydays to anyone willing to get off their flight. delta ten grand to get off of flight from michigan to minnesota. i have to tell you, normally i fly american airlines that i have switched to delta because they offer me $10000, i will do that. >> i agree but we've got to get more facts. the big problem is why are there so many cancellations? what bothers me, the biden administration would stop the vaccine mandates, let people quit or lost their jobs so they created this problem. they don't talk about this but the vaccine mandate that forced a lot of people in the airline industry's to lose their jobs. anita: i fly back and forth across the country quite a bit, i've never experienced so many flight delays, cancellations. it's like nine out of every ten flights have problems and generally it is that they can't get enough crews together. charlie, why is that? is what leo saying correct, covid-19 wreak havoc with all this? >> that is a big part of it and having political opinions is fun and games until it comes down to running them massive tra

. >>> okay delta airlines has gone on quite a shopping spree. agreeing to buy 100 boeing 737 max 10 planes. airlinest' first major order from boeing in more than a decade. 737 max 10 advertise as more fuel efficient and will replace the older narrow body jets. the 737 max you may remember was grounded for at least 18 months after two deadly crashes killed 346 people. that order was listed in november of 2020. however, the newer max 10 model doesn't have government approval yet. boeing says they hope to have that federal approval for the end of the year and then deliveries are expected to begin in 2025. >>> check the calendar. next month schools begin for most of the bay area students and we're here to help. our annual backpack drive is off to a great start getting brand new backpacks and supplies to thousands of our local kids. our consumer investigator chris chmura is leading the charge. >> reporter: good evening from san jose our effort continues. we are attempting to put thousands of backpacks into the hands or on the backs of students around

a delta airlines plane blew two tires after landing at l. a x this afternoon. no one on board the flight from atlanta or on the ground was hurt l a x shut down two runways to get passengers off the plane and clear tire debris. passengers were eventually able to get off the flight and were bussed to the terminal. what exactly caused those tires to blow remains unknown at this time. the port of oakland was nearly pushed to a standstill today as owner operator truck drivers entered their second day of a labor strike. truck drivers are rallying against assembly bill five, which is now state law. part of it requires companies to provide benefits for gig workers and independent contractors. but that also means truck drivers either have to become employees of trucking and cargo dispatch companies or create their own businesses. some drivers say that's a burden they cannot afford. the protest is expected to continue through tomorrow. the oakland city council has approved the resolution calling for an investigation into a controversial merger of mills college and northe

but right now there's a lot of tension between american airlines, delta air lines, southwest airlinesand those airlines and management. yesterday american airlines issued a new contract proposal to its pilots offering a 16.9% pay increase. that would be in place by the end of 2024. that certainly is very compelling. united had put out a proposal a couple of weeks ago to its pilots. that appears to be dead in the water right now. i think united's pilots and management will renegotiate that. they seem to be a little bit more collaborative there. delta which has a reputation for having one of the best relationships between management and labor is really, really struggling. yesterday they were picketing by delta pilots at several airports. the delta pilots say they are being overworked, as do southwest pilots. delta pilots are also frustrated that in their opinion delta outsources a lot of the long haul international flying. flights between the u.s. and europe, they want to operate more of those lights and they want more and better pay and other forms of compensation. it's going to be a t

things so dire, delta airlines is offering free flight changes through monday. cut flights helping to give wiggle room with cancellations and delays down the road. the timing could mean the end of the holiday travel period to be a nightmare more some travelers. drivers not doing better. the average of cost for a gallon of regular at $4.84. >> they have been coming down a little bit. still painful. >> reporter: in los angeles where prices are above $6, garrett recently bought an electric vehicle. just in time for a weekend get away. >> i knew if i drove it would be cheaper than flying. >> reporter: his 1,300 mile road trip to oregon totaling $97. a steal compared with a gas car or $500 round trip plane ticket. >> i don't have to worry about getting up there in time. >> reporter: making him one of the few who won't explode in frustration this fourth of july weekend. guys, tsa officials say travel issues will continue through the holiday weekend as well as through the first few weeks of august. things are pictured to calm down approaching labor day. if you have the

. >> reporter: delta airlines has consistently led the pack of major airlines when it comes to cancellationsituted travel waiver for all of its customers to change their flight completely free of charge. it's bracing for more cancellations and delta ceo is apologizing to customers saying this operating environment is like nothing it has ever experienced. >> thank you. . gas prices are declining just in time for the holiday weekend. aaa estimates a record number of american will be hitting the road with gas, it is still hovering near record levels. >> reporter: we are expecting to see a lot of people hit thes for the holiday weekend. a record number according to the aaa forecast. we're expecting 48 million travelers. 42 million of those expected to be on the road. that's an increase over last year. when you look at the why of this, why such record breaking numbers expected on the road when you have those soaring gas prices. aaa will tell you one possibility could be what pete was talking about. people wanting to avoid those headaches from the delays and cancellations at the airport. the gas p

always are working together to make sure that we mitigate that as much as possible. >> reporter: delta airlineuraging passengers to avoid the mess. it will allow all passengers to rebook their flight completely free of charge through july 4th. there's reports that passengers on an over booked flight from grand rapid were offered $10,000 to give up their seat. the delays and cancellations are piling up. pam. >> what a mess. wow, $10,000. can't get over that. arms say they are cancelling flights to minimize disruptions. w why are airlines struggling to keep up with demand? >> the reason is this. the travel rebound has been far faster and far larger than i think airlines expected. even though they could take a look at their future bookings from the reservation systems. you don't just walk in off the street to become an airline pilot and go behind the wheel of a 737. there was a shortage of pilot, air traffic controllers, a lot of demand for travel and it just ends up in this current chaos. so many people are saying we will forget driving and we will drive somewhere. we just got back more than 170

smoother than last weekend then we head into the rest of the summer >> and certain airlines and delta airlinesivers. are there expectations this situation will get better, phil, as the summer goes along or will be more of the same? >> it should be a little bit better you have three airlines and others who have already said they brought down the schedules. you have american, delta and united who all started bringing down schedules starting on july 1st. there is a little less stress on the system overall the bottom line is these are packed flights all the way through labor day at least if we get a bad weather system somewhere, watch out that's where the cancellations and delays really pile up. >> we'll watch phil, thanks for joining us. phil lebeau. >>> now to some of the morning's other top stories. including a twitter fight with jeff bezos and the white house silvana henao has delays >> seema, thanks tiktok is abandoning plans to expand the social media platform has been hit by problems and struggled to gain traction with consumers. tiktok shop was launched in the uk last year with brands and

international airshow outside london, delta airlines purchasing 100 other 737 max 10 jetliners with aalue of $7.6 billion overall, usually there are big discounts on big orders in august. the bond rate is the first large-scale gathering of aviation industry leaders in three years. global news 24 hours a day on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm ritika gupta, this is bloomberg. ♪ >> they made a major shift in their policies, recognizing since they started amassing forces that the markets have been affected and there is a sub why demand issue with announced increases for july and august. basically what we heard on the trip, i'm very confident we will see a few more steps in the coming weeks. jonathan: one of the shop at -- sharpest minds in the state department, a senior designer on energy security from cvs. good morning in 12 minutes we will have 12 minutes from goldman, hopefully. going into that, futures are off. the path continuing for now by 1.2 percent. yield time by a at three basis points. a dollar wea

wednesday, we hear from delta airlines. i think the consumer is not finished traveling. maybe they have everything they need at home but, they are not done traveling. we just saved so much money and missed out on so much travel so now all the airplanes are filled. delta is saying things are not good and that would be a true revelation. and then the banks reporting. we are getting used to the stocks getting crushed after the report. but what if they are so far down this time that there is nowhere left to go but up. the banks tend to become more profitable every time the fed rages interest rates because they can invest at a higher rate than the will pay you. i think the more this happens, it offsets any damage that could cause by a potential. a potential increase in bad loans. it is amazing that when their net margins were lower, the stocks were higher. now that the net interest margins are high and the stocks are low yet, they are still hated, it makes no sense. it could produce spectacular results. that is why i like morgan stanley and j.p. morgan -- trading lines have b

the delta airline will be reached out did not have any comments. they say that updated if they are ready to go on a different flight. alicia: so much not fun they attempt to have a son and had fun. alexis adams thank you. rich: i will take ten grand. flying would be a nightmare hitting the road is not a bargain either. the average gallon of gas is $4.82 that's up nearly 65% from a year ago. gas taxes are pushing the cost even higher senior correspondent claudia's live in l.a. with more, claudia rex assuming they're paying 6059 cents a gallon to fill up this gas station in los angeles but get going here on their holiday weekend. for many people it is a three-day weekend. boyt were some drivers celebrating early. not far from here down and california at a gas station that was giving it away for free up to $50 per car. a local councilman sponsored the event that attracted a lot of grateful drivers for the two hours that it lasted. though it mostly people still had to pull out the wallet to top up their tank. here's a look at how much it has cost them

and most of the canceled flights are with american and delta airlines today. hundreds of delta pilots weren't out picketing at airports across the country. they are demanding better pay and better schedules as we're heading into another busy holiday weekend and with the constant chaos at the airports, we wanted to see just how customer service of the largest u.s. airlines are handling the mast. our reporter paul gerke is at laguardia airport in new york. angry and nobody has given me any money. travelers are fed up with airline customer service. >> this is ridiculous and they're having trouble finding a sympathetic ear. all of our representatives insisting other college high call volume ahead of the holiday weekend is keeping paid passengers on hold for hours in some instances between one hour and minutes and 2 hours and 20 that that was the wait time to talk to a human at american airlines this afternoon. although i found if you yell agent 3 times, you'll get a place in line faster. >> american, the largest u.s. carrier had by far the longest whole time. >> we

last hour, i spoke with the chair of the delta airline pilots association master executive council captain jason to talk about the challenges that he and his colleagues are facing. >> it's irresponsible scheduling. we're scheduling more flights than we have people the fly them. the pilots are used the flying over time in the summertime to help because there's always an increase in flying. it's been over year now where we have been pressed to the limit of flying as much as they can. more time away from their family. out there trying to get our passengers to their destinations and it's just can't be sustained at this level. the pilots are getting fatigued, quite honestly. they are making the tough safety call at times to say i'm putting my hand in the air. i'm tired. no pilot wants to do that. no pilot rwants to strand their passenger or fellow crew members. it's a safety issue. >> in addition to those problems with pilots that we were just hearing about, just the increase demand heading into this holiday weekend. we also got issues with the weather which could add to this weekend's travel t

. >> reporter: delta airlines is letting all customers change their flights free of charge saying operational challenges are expected this holiday weekend. this week delta pilots picketed at major hubs saying they are over worked. >> who is to blame when it comes to massive cancellations? >> let's be clear. the majority of delays and cancellations have not been caused by air traffic control staffing issues. the airlines that are selling the tickets need have the crews and the staff to back up those sales. >> reporter: after passengers set a new pandemic era record, the tsa thinks this weekend will be big. the question for travelers, is will it be smooth. >> is staffing an issue for tsa as well? >> staffing is a challenge for everybody. it will not impact wait times for travelers. >> reporter: this is the biggest test yet for airlines as they recover from the pandemic. the tsa carscreened 2.44 millio people just yesterday. they are expecting today to be the busiest day here at reagan national airport. they will screen 35,000 people here, alone. the cancellations and delays are already climbing

if you have another reminder of higher costs, delta airlines with its outlook giving us another realityck. kriti: the rising costs is the name of the game. referring to a four decade high in june -- roaring to a four decade high in june. when it has now from the rock on monday -- joining us now from the rocky mountain summit, mike, let us start with the superlative, the highest inflation rating since 1981. inflation is getting higher and higher. is there a risk of a quick deflation that follows? >> we could get back to the same inflation dynamics we saw after the great financial crisis when we did have a deflationary atmosphere. right now, there is too much of a broad case of inflation. not just the gasoline and food, and of areas are seeing price increases. we did see changes in goods prices, continuing to fall. as people switch to more services spending, it may level out and we see a bit of a decline. it will be a while until we see inflation come down. there is no danger it comes down very quickly. john: help us get our heads around what was now factored into this reading. a month ag

second quarter earnings, delta airlines missing expectations and saying hi operating costs will persist rest of your. u.s. carriers are trying to return to consistent tones after the pandemic hammered travel. it still expects meaningful full year of profits ultimately. and of course oil is the biggest one but they got their own refinery. david: yeah, where you don't have refiners are countries like the philippines which are big importers. not so much they did not have it but they do not have the supply that goes into the stuff which takes us into the inflation story, which takes us into this action announced 40 minutes or so ago. thanks and child taking action looking to anchor inflation expectations and tamper counting risks to the inflation outlook, session lows, third straight days of losses on the philippine composite. flip the boards, please. also surprises out of singapore show you on the chart this is when they basically came out and surprised us with that. an hour before the cash markets opened in singapore. adjusting i think it is the midpoint that they adjusted this time and n

become an agent of innovation with invesco qqq >> cheryl: a fox business alert for you shares of delta airlinesosted third quarter earnings below wall street expectations. delta reporting adjusted earnings per share of $1.44. the carrier said its third quarter capacity be 83% to 85% of 2019 levels. the stock, as you can see , under pressure. the forecast not what we needed almost 5% down, united is down almost about a half a percent or more, american is down about 2.5%, fyi, those numbers are coming out next week. united after the bell american is before the open. unity software take a look at this stock right now, that stock is down more than 17.5% they announced a merger and they cut full year guidance. the company is going to merge with israel ad tech company iron source in an all-stock deal. that's valued at about 4.4 billion and tandem with the announcement unity reduced full year 2022 revenue guidance citing the mark rosenstein economic environment macroeconomic environment, as you can see the stock is up about 52% right now. all right, stich fix, take a look at this one up more than 16 %

would you give up your airline seat this holiday weekend for 10 grand? several deltasengers did just that this week when their flights were oversold. >> joe has the story. >> i think the airlines are trying to do everything they can to make. it is going experience. but i still $2000 is a lot. >> jason his family enjoying their alaskan adventure. turns out just getting there was also an adventure and it started when he and his family were sitting on the tarmac at the 40 airport monday set to take off for their connecting flight in minneapolis. >> and they came on me. pa system and said that they were looking for volunteers and that they're willing to pay $10,000. which everyone assumed like they heard it right? >> not a travel voucher, $10,000 and a visa gift card or right in your wallet. if you have apple pay about now, you're probably thinking and took the money and got off the plane. >> it was that easy for the magazine tech writer who wrote about the experience in a recent column. >> i know 10,000 are seems like a lot of money, but you have to realize that it first

. >>> let's talk delta airlines.erforming stock in the s&p 500 today that is after it posted a profit miss for the second quarter due to rising costs and cancellations. jim levanthal owns it which is why we made him call in and talk about it you bought it last quarter ed bastion, the ceo, is all fired up he was saying how great things were and he convinced you to buy his stock. now what >> i just love your intros, i always love them, scott. you know what, he's fired up again. he's fired up again. there's no crack in consumer demand even more importantly, international and corporate travel is picking up international travel is up to 65% of 2019 levels at the beginning of the year it was 40%. that's where more money is made, international and business travel he sees no demand faltering. in fact the comment he made is whatever is going on in the economy, he's not seeing it in his business now, the quarter was bad because of the cancellations that you mentioned and the costs associated with them that's a temporary phenom

. >> delta airlines says it is expecting the number of passengers to reach prepandemic levels and anticipatingwhat it describes as operatal challenges. u.s. transportation secretary buttigieg says airlines need to step up their game. >> let's be clear. the majority of the delays and the majority of cancellations have not been caused by air traffic control staffing issues. the bottom line is this the airlines are selling tickets need to have the crews and the staff to back up the sales. >> for many the trip was over before it began with nearly 600 flights canceled on friday. others face delays with over 7,000 flights running behind schedule. rain could wash out some of the plans that people have made. joining me now cnn meteorologist. what are you seeing out there? i don't know why people bother on weekends like this. stay home. >> if you listen closely over the air waves you can hear the collective sigh of this morning. people here increase demand, staffing shortages and rain. and they think well, traffic delays in skies. that's what they're going to get. especially along the eastern sea board

second quarter earnings at delta airlines missed expectations.ne said high operating costs will persist the rest of the year. u.s. carriers are trying to return to consistent earnings after the pandemic hammer to travel. shery: coming up, tbw advisory chief jay pelosky tells us his investment tragedy. -- strategy. plus, what they may suggest about global economic activity in the rest of the year. that is it for daybreak australian. daybreak asia is next as we continue to watch the markets. u.s. futures under pressure after the s&p 500 lost ground in the new york session. the hot u.s. inflation report really rattling financial markets. this is bloomberg. ♪