>>> coming up, american airlines ceo doug parker will join us he had a busy morning on "squawk box. the futures are pointing to a higher open. a lot of earnings. stay tuned you're watching "squawk box." >>> time now for today's aflac trivia question. what u.s. city has the most starbucks locations? the answer when cnbc "squawk box" continues and this is the aflac duck who helped me cover it. aflac. these are all the cab rides to my physical therapy. and aflac paid me directly to help. aflac. what he said. and this unexpected bill is from... the two-thousand-dollar specialist. thanks. aflac. when you're sick or injured, aflac is there. we can help with expenses health insurance doesn't cover. get to know us at aflac.com >>> now the answer to today's aflac trivia question. what u.s. city has the most starbucklotis?s caon the answer, new york city with 230. >>> american airlines reporting results about 30 minutes ago lets he a get right to phil lebeau. >> reporter: let's bring in doug parker, the ceo of american airlines he joins us from the company headquarters in fort worth, texas. d

you know, when they have been asked about it, when doug parker is asked about would you consider bankruptcyfinancial tool, he said he does not see it that way. that, you know, they think they have a debt crisis that they're facing and demand crisis he is adamant that is not something he wants to pursue. >> they have to say that, don't they >> sure. >> everybody is going to say that but the reality is what, allison? >> i think for all the airlines, it's kind of, you know, a game to hold on to as much much cash as possible and bring in as much cash as possible hold on to it and hope there is a vaccine or, you know, they can hang on until there is a recovery. >> even with the vaccine though, allison, people may not want to have the vaccine people may be skiddish about flying there is also -- there is also, of course, the economic impact on the flying public some people may not have jobs or operating with the reduced budget to fly. there is that sort of ancillary impact even if there is a vaccine, i don't know that airlines are looking at getting back to full capacity, are they >> no. i think t

deeper picture into what american airlines is going through because of the letter from american ceo doug parkeryees saying the financial situation is improving, doing everything that the airline can do, to avoid layoffs and furloughs. a new $4.7 billion loan coming from the federal government. flights about 63% full compared to only 15% back in april. even in spite of all of this, american says it will have 20,000, too many employees, come this fall. it cannot furlough anyone can not lay anybody off, because of restrictions tacked on to a federal bailout, but those restrictions expire october 1st. jake? >> all right. pete muntean, thank you so much. >>> looking for a safe way to celebrate the fourth of july this sand night? stay with us, cnn's don lemon and dana bash, hosting all-star musical guests. stay at home. watch on tv. don't get covid. >>> and getting into a confrontation at the airport and women gets punched in the face. what happened next? >>> stay with us. spond. first to put others' lives before your own. and in an emergency, you need a network that puts you first. firstnet. the onl

morgan, we'll be talking with doug parker, see what he has to say, get his outlook on the industry >>g forward to it phil lebeau, thank you for bringing us the latest >>> meantime, the largest spak ever raised and how billionaire investor bill ackman is involved we'll explain it after the break. woman: my reputation was trashed online. i felt completely helpless. my entire career and business were in jeopardy. i called reputation defender. vo: take control of your online reputation. get your free reputation report card at reputationdefender.com. find out your online reputation today and let the experts help you repair it. woman: they were able to restore my good name. vo: visit reputationdefender.com or call 1-877-866-8555. >>> welcome back always a big mover, after-earnings results snap shares getting crushed this morning after seeing daily active users drop. a full breakdown of the quarter is just minutes away on "squawk alley," but as you can see right there, stock's down 8% today we're back in a moment hey! lily from at&t here. with some helpful tips. tip #1: you can currently get

to be dray smaller starting october 1st it has notified 25,000 warn notices will be sent out ceo doug parkerthey anticipate having 20,000 more employees than they need with the smaller schedule starting october 1st. we're not going to run down all of the numbers but here are the big funs flight attendants, 9,950 positions eliminated, father or mother followed by fleet service, maintenance and other related jobs, 3200 passenger service, gate agents eliminating 2900 jobs. pilots eliminating 2500 jobs just like united when they sent out their notices within the last week or so, american is going to be offering early retirement packages as well as unpaid leaves of absences. there are thousands of employees who may take those packages. all be laid off. in fact it's going to be a smaller number than that just as it is at united and other airlines clearly they're going to be eliminating at least 20,000 positions and these notices are being sent out to 25,000 workers. >> is this steeper than expected >> no. it's about what we expected. basically you're looking at about 27% of the company this is wha

when we talked with the ceo doug parker, he said that's a lot of money but necessary right now. >> at this point in time, none of us are worried so much about additional debt as we're making sure we have liquidity to ride through the crisis we feel good about that. once we get through that, we'll begin the work of generating cash and using that to reduce the debt levels over time which i'm confident we'll do >> by the way, all of the executives that we talked with not just today but over the last couple days, they all said the same thing we're lickly going to see some demand plateau here until we see some real progress on a vaccine and a vaccine that is actually out there. and who knows when that is, guys >> absolutely. phil, huge question. i also like the tough talk from gary kelly of southwest on masks saying if we have to wear pants in public, we should have to wear masks as well seems like they're getting a little more strict in terms of the policies on masks. are certain airlines different than other airlines in terms of the policies around those kind of precautions >> sara. almo

we will have an exclusive interview with american airlines ceo doug parker, you do not want to miss this interview tomorrow morning on "squawk box." we'll get his take on where the airline industry is now and his outlook for how long it will take for the recovery in air travel back to you. >> phil lebeau, thank you very much >>> broader markets with about 50 minutes left in the session, up about a third of a percent. >>> up next, shares of thermo fisher are up 125% this year we'll speak with the company's ceo after the break. you're watching "closing bell" on cnbc. businesses are starting to bounce back. but what if you could do better than that? like adapt. discover. deliver. in new ways. to new customers. what if you could come back stronger? faster. better. at comcast business, we want to help you not just bounce back. but bounce forward. that's why we're helping you stay ahead and adapt with a network you can count on, 24/7 support and flexible solutions that work wherever you are. call or go online today. save without even leaving your house. just keep your phone and switch to xfini

the total debt right now at american is about 40 billion here is doug parker, ceo of america, talkingompany's debt position right now. >> our debt levels are high. we came into 2020 looking to -- we raised a good bit of debt as we modernized our fleet. it's changed we and all airlines continue to raise liquidity. much of it through debt in order to get through the crisis. that's something we'll have to deal with. once we get to be cash positive again, but it's necessary to do in this environment. >> all right so that's the story with the airlines let's shift and talk about tesla. tesla reporting its fourth profitable quarter in a row. we've talked about what that means about possible inclusion in the s&p 500 also announcing it's going to be building a second final assembly plant in the united states just outside of austin, texas. in terms of maintaining profitability, here is ceo elon musk on last night's earnings call about what he's shooting for. >> we need to not go back out. that will fail in our mission, but we're not trying to be super profitable either. obviously, profitability

pandemic in the interview with "washington post" opinion writer jonathan kay parker chautauqua relationship with arizona governor doug ducey and criticized the federal government response to the pandemic calling for better coordination of the distribution of medical supplies. -- critical supplies. >> i believe our residents will do the right thing if they get accurate information to time calling on every elected official from the president on down to send the message that wearing masks works in the staying at home can slow the spread. >> welcome to "washington post" letter on jonathan capehart, opinion writer for the "washington post." phoenix mayor kate gallego is making headlines for her criticism about arizona's governor and the federal government have responded to the coronavirus pandemic. her city and surrounding county has seen a surge in new cases but not in testing. last end of this week george stephanopoulos you said it quote feels like they are declaring victory while we are in crisis mode. we will talk about all of that right now with mayor gallego. welcome. >> thank you so much for having me. >> there's a

jessica parker, bbc news. doug health and safety officer at the union of shop, distributive and allied workers — which has about half a million members across the uk. hello, mr russell. good morning. bullseye's how do you react to this, and how will this affect your members? sorry, could you repeat? divide how do you reactivate and how will this affect your members? we are pleased that government has finally made up its mind. our members will have to deal with it as they have dealt with all the other changes thrown at them as the crisis has developed over the last few months. have there been issues for members in scotland, where it is compulsory? so far it has been pretty good in scotland, feedback is that the vast majority of the public are complying and we are not aware of any major serious incident that have taken place, but there is time to find out how they are a minority are awkward and objectivity. what do you advise members to do it somebody walks in when they are meant to be wearing a mask and they are not

pandemic in the interview with "washington post" opinion writer jonathan kay parker chautauqua relationship with arizona governor doug ducey and criticized the federal

parker, bbc news. clegg russell is the health and safety officer ——. —— earlier i spoke to doug russell, health and safetyof shop, distributive and allied workers which has about half a million members across the uk about their reaction to this announcement. the confusion has not helped at all, members will have to deal with this as they have dealt with everything else during the crisis over the last couple of months. has been issued for members in scotland, where is compulsory? —— has that been issues? the vast majority of the public are complying, we are not aware that a serious incident taken place yet but there is time to find out how they camei there is time to find out how they came i is awkward about it. what do you advise members to do it somebody walks in when they are meant to be wearing a mask and they are not? they are very clear in scotland and i hope it will be the same principle in england, it is not thejob of shop workers to police this, they have no parity act in that circumstance and they are not in the position to tell whether the person not wearing a mask has a valid reason or is objec