we've got delta, ed bastian. he's going to join us.th despite an uncertain economy. the ceo ed bastian joins us on set for a special interview. >>> before we head to the break. let's get a check on the markets this morning again, you're talking about markets that are hesitant to move too far one direction or the other ahead of jay powell's comments later this afternoon. right now the dow is up by 44 points nasdaq up 7.5. the s&p up by just over 4 points "squawk box" will be right back. i was born on the south side of chicago. it has been a long road, but now i'm working for schwab. i love to help people understand the world through their lens and invest accordingly. you can call us christmas eve at four o'clock in the morning. we're gonna always make sure that you have all of the financial tools and support to secure your financial future. that means a lot for my community and for every community. >>> delta airlines holding its investor day before it begins, phil lebeau is here >> good morning. time to talk guidance. we're atthat time

but i'm going back to ed bastian on the show. 18 months ago, he said international china, forget about 2023. he was dead on. are we on the 24 now? i we starting to gaze into what we do in hong kong. shane do is important for a lot of businesses. >> before even make it to 23. ongoing difficulties are presented by the covid-19 situation. that doesn't speak to the enthusiasm and confidence that people have around this reopening story and china. >> this confirms what everyone is saying. that there is a reopening story and china. that hasn't been borne out by fax. it speaks to that story on the other site. international events say they have no conviction of what that policy will be, and that is not currently available. >> very different america with a state dinner. >> we were there. i'm not sure. >> i went to the list. mr. colbert was there. senators. gather senators. they should do this more often. >> we should do more of this. >> we should take coverage. >> escher your ultimate conclusion. >> it is always a conclusion. he's wearing a mask. >> voting. like the gala risk. >> q tell us who d

these are fantastic predictions from the ceo ed bastian himself despite high prices and an economic slowdown airfare and get on those flights, bum on seats as we call it to get ink across atlantic to go visit those wonderful european locations. united yesterday earning that 100 boeing dreamliner order that was the biggest boeing airline plane order in u.s. history. it was 100 for another 100 option as well. stuart: but that's a positive about future travel too. >> absolutely. stuart: you buy 200 planes presumably you think you'll fill them. >> yeah and i think cost is a concern because yesterday, you had united down 7% despite that huge plane order, so they are spending so much they still have to get that pilot agreement as well. oil prices were autopsy at their highest in 14 years, jet fuel costs accounted for about 70% for the airlines. stuart: you've got 76 bucks a barrel right now for crude oil up 1.7%. now let's talk tesla and let's talk elon musk. >> always. stuart: tesla stock, yeah, everyday you've got to do this everyday. tesla stock hit very hard since twitter's ta lows so down ove

i think that covid, a lot of pent-up demand that ed bastian our partner at delta talked about $300 billionhat didn't happen during covid that may not all happen but it's going to happen overtime. we're seeing businesses, the relationships being in- person, super-important to people, and again, experienced economy what you're doing, who you're visiting, the people, the people touch. liz: before we go, kenny, you bought this week 400,000 shares of the stock. >> i did. liz: the stock has like just about every other company lately been hammered. >> yup. liz: what do you want this to say? obviously it's a vote for the company i would imagine, but this has been a rough go. >> well like i said, i think i'm taking a very long term approach. i look at the bezos and the people that i look up to. there's going to be a point in time where there's a dislocation on the stock price and what the companies going to be worth overtime. i looked at it and i discussed it with my wife and family and said this is a perfect time for us to show confidence but i love the price, so it was a perfect time to do that.

guidance, the expectation, when delta holds its investor day and we're going to be talking with ed bastian. we'll put it right to him, what are you noticing in terms of revenue. we'll get a better read tomorrow, more updated tomorrow when we talk with him. >> i feel like the sector is so sensitive to bad news. down 4.2%. why the underperformance of jetblue? what is happening in the last few months since the spirit drama, right >> sure. i'm not sure it is underperformance i think it is a case that the guidance, which was pretty broad, is just not going to the upper end of what people were expecting. all it takes is one mention of things slowing down a little bit in december, boom, that's enough to spook people, especially not just with jetblue, but with all of the airline stocks. the number of people i talked with, sara, who say i hear about great demand, but i think we're going into a recession doesn't add up to me, i think that's part -- that's at play here for the most part. >> no question thank you, phil. phil lebeau, jetblue down 8% right now. if you lock look at what's selling off, ai

when we talked with ed bastian, they said it's clear that they continue to see very strong demand largerporate travel, which has lagged small business travel is continuing to gradually increase and that will probably happen even more in 2023. the one constraint, if there is one, is on the supply and the training of pilots here's mr. bastian >> capacity constraints are real and listen, we're not holding, we tried this spring, you saw it happen it broke we had to dial it back and so, it's still pretty fragile. pilots are the biggest constraint, the resources, i think that's going to continue to be a resource constraint for several years. >> remember, they have a tentative agreement in place with the pilots to basically give a 34% raise over the next four years keep in mind, i've heard from a lot of people, like, 34% is ridiculous they didn't have a contract for the previous four years. that 34%, if you look at it over the course of eight years, is not outrageous the question is, do they get it finalized by the rank and file that's a completely separate question we'll see that play out ove