phil lebeau joins us once again this morning with new details. py of the letter the fa assent to boeing executives in may, may 13th we won't get into all of the contents, just the important thing to take away is they bring the up important things. a litany of technical issues that they do not believe boeing has satisfied or given the faa enough confidence in in order for them to take the next step in the certification process they also say that they do not expect the 77-9, that is the first version of the 777x, to be certified until mid to late 2023 at least two years away. this is the first flight that happened in january of 2020. the faa releasing a statement yesterday saying the faa will not approve any aircraft unless it meets our safety and certification standards. now let's be clear here, dave calhoun, the ceo of boeing, has said that they do not expect that this aircraft will be certified until the fourth quarter of 2023. so this is not going to change the company's immediate guidance this has been slipping they said, yeah, we expect delive

our phil lebeau is back with the story that i have been dying to get to good to see you. >> hi, carl,hat's getting a lot of people saying, maybe i will be able to fly super sonic. united ordering super sonic jets from boom super sonic, a start up out of defer. this is what it would look like, their rendering of what it would look like. that is the united super sonic jet, what about at overture by boom, well, they have built this or they will build this. they hope to have first flight by 2026, and they expect commercial service, at least they're targeting it right now, by 2029. the big selling point, you can cut international flight times practically in half. this is the expectation from boom in terms of flight times. new york to london in 3 1/2 hours. right now, it's a 6 1/2, maybe 7 hour flight. fran to tokyo in six hours l.a. to sydney in 8 1/2 hours. this no doubt excites people who want to go get distances, very fast, and cut their flight times down keep in mind that the united super sonic jets, they will carry 88 passengers, and again, they expect to take delivery of these later

>> i love phil lebeau giving me the business that was tremendous. i love phil, number one.o ceos in one and he crushes on both. twitter and the earnings on july 22nd >> karen >> yeah, so we talked about it target what do you do when a stock runs up so much do you buy it? if you don't own it, buy some, like a quarter position. you will probably get a chance to buy it cheaper. maybe not. buy some. >> tim. >> we talked about china's didi coming into the top end. range. rideshare and the $65 billion valuation effectively. if this pbook was oversubscribe by u.s. investors i have to be buying baba. the headwinds against baba is big brother and that's the dynamic you have to accept is on your side also at didi alibaba, i think she breaks higher >> dan. >> on guy's twitter call, tom brady is talking crypto. yesterday we had sean carter with jack dorsey on a twitter space. that's on fire i like sofi last week 21.5 i like it here. >> see you tomorrow. "mad money" with jim cramer starts right now xxxx >>> i am here to level the playing field for all investors. there is always a bull m

. >> reporter: new planes, new noors and a new approach to customer service i'm phil lebeau with a lookig investment coming up on "power lunch". >> announcer: and now the latest from trading nation.cnbc.com and a word from our sponsor. yee-haw! go left! i'm gonna go were navigation says. ah! - turn left. thank you navigation. >>> welcome back united alliance getting ready for what it hopes to be a return to normal, placing huge orders for new planes phil lebeau, take it away. >> reporter: eamon, this is a huge order let's spell out what is being ordered by united airlines it breaks down like this 270 new airplanes, 200 of those will be 737 maxes, 7 on airbus 81 neos, with the real acceleration coming in 2023. here is ceo scott kirby. >> by the time we get to 2023, a new airplane every three days, this really is about, as we come out of covid, confidence in the future, being able to rapidly change the airline for customers. >> reporter: one of the big changes, upgraded interiors for every single s.le-aisle plane which they fly more premium seats seatback entertainment, bigger bins, you t

drivers hanging on to their existing cars longer has increased once again the age of cars on the road phil lebeau.1 years that is the average age of a vehicle in the united states if that sounds long in terms of how old a vehicle is, it's because it is a new record high. it keeps going up. and it really shot up in the last year and a half especially as you see more people hang on to their vehicles a little bit longer. to put this in some perspective here, there are about 280 million vehicles on the road in the united states. guess what 25% of them, 70 million, are at least 16 years or older. that's a reflection of how long people are holding on to their vehicles and the folks who put this data together, ihs markit, they're not surprised. >> in a lot of ways i think it's out of necessity that vehicles are staying on the road longer because it's more expensive to buy new so you have to squeeze more value out of that vehicle for a longer period of time. >> all of this is good news for the auto dealers whether it's on the new side, on the used side, they're all benefiting from people who are buying u

phil lebeau with the story how will it work, phil >> hey, you know, sara, if this plane is flying byde, which is the idea at this point, wilf will probably buy himself a ticket this is what united is hoping it will see in its fleet by 2029. this is the boom supersonic jet. the one that they plan to build called the overture in a united livery, they have bought 15 of them they have an option to buy 35 more but there are a lot of hurdles that the overture needs to overcome for boom supersonic as they're developing this manufacturing of the supersonic jet will start in 2023 they plan to start rolling it out with the first flight in '26. if approved by lregulators, including the faa, it would start commercial service in 2029 you might be saying who is boom supersonic fou founded in 2014, we've talked to the ceo a number of times, it's based in denver. up to 150 employees and they have raised $270 million united, by the way, is assisting boom as they are working on developing the overture aircraft one of the big selling points for united is the fact that this will be powered, right now th

back to you. >> phil lebeau, thanks for that for that a-312s is not a new plane out. steph, i'll come to you and what you are takeaway is. it's a stock you've been into and out of at different times. where do you stand on it at the moment >> i own boeing. it's up 16% year to date so it's had a good year but down 40% from its old highs but this is like a reopening as air traffic continues to recover, the tsa checkpoints are really solid and improving sequentially 21% of their wide bodies are 21 years or older i thought the airbus news about increasing production and deliveries bodes well for boeing because that could add 450 new planes for boeing as well if the demand continues and s going to be a really busy summer for ipos as well. >> it is. >> and the journal did a write-up on this just this morning that ipos can raise some $40 billion over the summer months which would be the most ever on record you take that and couple it with the fact that we are still seeing it might be more than a drip -- >> activity? >> spac deals as well. you have more and more companies comi

chicago o'hare, phil lebeau is standing by.arning about the rise in physical assaults. >> reporter: new numbers from faa are stunning, shows that problem with unruly passengers is getting worse more than 3,100 cases reported by airlines, 75% of the time because somebody refuses to wear a mask stunning figure, 60-plus cases were people physically ast assaulting a member of the flight crew, all manner of physical altercations has the faa and airlines worried this problem is getting worse and they have to be more public fighting it. >> and putting more who fight on no-fly lists, right? >> reporter: not necessarily that's the interesting thing no-fly list is controlled by the fbi. key is that if you're put on the fbi's no-fly list if you're considered a terrorist threat. not wearing mask and having something to drink and mouth off and push a flight attentant. are you terrorist, no. but should you be flying probably not should there be a no-fly list for the people run by tsa? >> makes sense and airports getting $8 billion from the f

but he did sell them starting on june 10th. >> phil, thank you very much >>> phil lebeau.ck the markets now. dow is up about 550 points up next, did the pandemic provide americans with a much-needed financial reset? we're back in a moment that building you're trying to buy, you should ten-x it. ten-x is the world's largest online commercial real estate exchange. and it's fast. if i could, i'd ten-x everything. like our lunch. (laughs) amazing! see it. want it. ten-x it. if you wake up thinking about the market and want to make the right moves fast... get decision tech from fidelity. [ cellphone vibrates ] you'll get proactive alerts for market events before they happen... and insights on every buy and sell decision. with zero-commission online u.s. stock and etf trades. for smarter trading decisions, get decision tech from fidelity. i'm only 21 for smarter trading decisions, but i've never been afraid of hard work. i waited tables to help my family make ends meet. i dreamed of going to college and the kpmg future leaders program helped me get there. with a scholarship, men

first to chicago where phil lebeau is standing by.he faa's warning about the rise of physical assaults >> reporter: the new numbers from the faa are stunning. it shows that the problem of unruly passengers is getting worse. more than 3100 cases reported to the faa by airlines, 75% of the time because somebody refuses to wear a mask. but here's the stunning figure 60-plus cases were people were physically assaulting a member of the flight crew pushing, punching. all manner of physical altercations, and that has the people at the faa as well as at the airlines worried that this problem is getting worse and they have to become more public about fighting it. >> and they're putting more who fight on planes on no-fly lists, right? >> not necessarily that's the interesting thing the no-fly list is controlled by the fbi. and the key is that if you're put on the fbi's no-fly list if you're considered a terrorist threat well, if you're not wearing your mask and you had a little something to drink and you mouth off and push a flight attendant, a

phil lebeau with more. don't miss it. check out the price of crude pulling back after climbing above $70 yesterday. we are awaiting the big opec meeting on thursday. "squawk" returns after this. >> announcer: this cnbc program sponsored by truist wealth where meaningful relationships matter most. posh virtual receptionists. don't like surprises? [ watch vibrates ] proactive notifications from fidelity keep you tuned in all day long. so when something happens that could affect your portfolio, you can act quickly. that's decision tech, only from fidelity. you can act quickly. girls... the chess club has gained an edge on our bake sales. we need more ways of connecting with customers, fast. i know some consultants with great ideas. can they help us improve our digital experience? absolutely. they've invested over $2 billion in tech. that could really help us manage inventory. and save us a ton of dough. then let's take back our market share. checkmate, chess heads. girls, i said “bedtime”! it's another day. and

united airlines making the biggest purchase of jets in that industry cnbc's phil lebeau is here withet by united airlines that traveler also return how do they know it's going to happen they just see the data and also believe new planes and new approach to customer service will bring them in flying the friendly skies will soon involve a big upgrade united airlines buying 270 new planes while renovating all of its single-aisle planes with bigger overhead bins and more seat back entertainment for every seat >> we had to create the product that customers want. that's what this is about, we're already in the biggest cities in the country. our hubs are in the best places in the country but we need to create the product >> united's makeover long overdue with the average plane almost 17 years old, much older than other carriers, but it's the flight experience where united believes it can make the biggest improvement. just a few years ago when a passenger was dragged off an oversold united flight the airline was blast the by critics. since then kirby and his team have steadily improved unite

boeing hitting headwinds after the faa pushed back approval of the long range jet let's get to phil lebeaus. >> this is widely speculate and expected that the triple 7 x would not be certified until 2023 even boeing said the guidance is pushing it back. but what we got over the weekend was a letter from the faa to boeing in may saying here is the reason why this plane is two years away from certification and a number of technical issues they did say to us, the faa will not approve any aircraft unless it meets our safety and certification standards. for dave calhoun and bowing this is another question of what is going on between boeing and the faa and its relationship when it comes to the inspection and certification of aircraft. dave did say earlier this year that they did not expect this triple 7 x to be certified until late 2023. so this is not new guidance from the company but as a glimpse into the relationship between boeing and the faa and in a statement today or yesterday boeing said it remains fully focused on safety as our highest priority throughout 777 x development as we subject

guys, back to you. >> phil lebeau phil, thank you.wake-up call for spacs or is it just so unique to the story? >> i would say, you know, in general it's a wake-up call -- a spac story and growth investment story. we saw a lot of momentum plays during the height of the spac craze. this is a prerevenue company talking about lordstown. so these are situations where investors have to stay disciplined. i have clients that are very, very driven by themomentum and the hype of anything related to spacs. going back to your fundamentals and disciplines is the biggest thing you can do while they are high promising growth trades that could play out well over time, there are stories like this where you can see a company come back and say they have an ongoing concern and need a capital infusion. they're shaking up management and there's a lot that can be done in the future to turn this company around but for the most shareholders not happy with what happened over the past eek but this is a wake-up call for investors to make sure that you stick to y

they get here, it will give people who are in that upper end of the market some more choices. >> phil lebeauting a whole lot richer, and that's what's topping cnbc's "on the money." home prices are soaring and that means homeowners are getting richer those with mortgages saw their equity jump by 20% in the first quarter of 2021 from just a year earlier. that's according to core logic, the big increase represents a collective cash gain of close to $2 trillion. barbie going green, mattel introducing it >>> barbie going green, mattel introducing its first fashion doll line made from discarded plastic. the collection includes three dolls, and a beach shack play set. all made of 90% recycled materials. each doll less than ten bucks. >>> and starbucks fighting low supply issues across the country from ingredients for the very berry hibiscus refreshers, whatever that is, and almond croissants as well, plus, good luck finding those little green stoppers that keep the coffee from spilling or are supposed to, the company spokesperson says the coffee chain is working with vendors to restock the little

our phil lebeau joins us now with more of those details good morning, phil >> scott, this shakeup is a huge surprise given the questions that were mounting regarding lordstown motors and some of the claims called into question bay short seller just three months ago as you take a look at shares of lordstown, remember what you have right now are the ceo and the cfo, they have both resigned, so they're out immediately. the ceo steve burn, he really provided the vision for lordstown motors and he also was behind so comments that were ultimately a part of the independent investigation. he not only resigned as ceo, he's also off the company's board of directors, immediately. i mentioned that independent investigation, lordstown, announcing this morning, the results of that independent investigation that it commissioned and gabe, this was looking into -- and gain, this was looking into the allegations from hindenburg research, which essentially said, look, the endurance and the claims about orders are a bunch of bull, well, they say that most of the claims from hindenburg research were fals

industry, united airlines making the biggest purchase of jets in that company's history cnbc's phil lebeauy united airlines that the traveler will return how do they feel this? how do they know this is going to happen? well, they just see the data and they also believe that new planes and a new approach to customer service will bring them in flying the friendly skies will soon include a big upgrade united airlines buying 270 new planes, while renovating all of its single aisle planes with more premium seats, bigger overhead bins, and more seatback entertainment for every seat >> we had to actually create the product that customers want, and that's really what this is about is giving the customers the product that they want because we're already in the biggest cities in the country. our hubs are in the best places in the country, but we needed to create the product that customers will choose to fly united airlines. >> united's makeover is long overdue, its fleet the oldest among u.s. airlines with the average plane almost 17 years old, much older than other carriers, but it's the flight exp

phil lebeau has that this morning. il >> let's start off with general motors whose investors are optimistic a double dose of news to push the shares higher. the company increasing its guidance for q2 saying it's going to do better than expected, earning at least $8.5 billion. and it's boosting its e.v. investment it's going to be spending up to $35 billion on e.v.s by 2025 that's an increase from where they were a few months ago they're going to be adding two more battery plants bringing the total to four, and expand e.v. capacity here's what ceo mary barra is planning. >> whether it's the hummer truck and suv, the cadillac, we're getting great customer feedback, and many of these vehicles, if they had been put on sale, they're already sold out. >> as you take a look at this chart, keep in mind a lot of people are saying, wow, are there really that many that are going to be sold over the next several years? >> yes the expectation is annual sales in the u.s. alone will top 1 million vehicles for electric vehicles by 2025

the company announced a departure of a long-time executive and the company got good news on china phil lebeautart with the departure of jerome guillen most recently overseeing the gig factory outside austin, texas. his departure comes after he has been a key figure, this is us talking with him at the gig factory out in sparks, nevada. he was instrumental in ramping up model 3 production. but he left as of june 3rd the company putting out an announcement yesterday saying he's no longer with the company. the company reporting good news out of china in terms of delivery they rebounded in may. that was coming out from the passenger car administration there. they had an increase of 29% of deliveries in may compared to april. it was a week or so ago there was a report circulating that perhaps they were going to have really bad reports for sales in may. that is not the case, according to the chinese government. they were up tw29%, guys. >> phil, i also want to ask you about ford and its latest pickup truck, the maverick. what's the takeaway on that? >> look, this is what ford does well ford knows tr

we're going to be talking to phil lebeau about the road ahead when "squawk box" returns.ping things will pick up by q3. yeah...uh... doug? sorry about that. umm... what...its...um... you alright? [sigh] [ding] never settle with power e*trade. it has powerful, easy-to-use tools to help you find opportunities, 24/7 support when you need answers plus some of the lowest options and futures contract prices around. don't get mad. get e*trade and start trading today. >>> good morning and welcome back to "squawk box" right here on cnbc. take a look at the dow up about 127 points. nasdaq looking higher. down to 40 s&p up 10.5 points show you treasury yields as well all of this coming on the backs of the conversation we had with jim bullard on friday that made lots of news and sent the market tumbling 10-year at 1.438 some corporate news for you. fascinating. lordstown motors under pressure to reassure the public and investors after a dramatic executive shakeup. admitting to inaccuracies about what it called pre-orders. down sharply after it went public with a spac phil lebeau join

now when it comes to bringing a new electric vehicle to market. >> phil, fascinating story thanks phil lebeauniles boosting his position in alphabet it begins at 11:00 a.m. eastern time in about 13 minutes stay with us dow is up 529. this is the sound of change. the sound of a thousand sighs of relief. and the sound of a company watching out for you. this is the sound of low cash mode from pnc bank, giving you multiple options and at least 24 hours to help you avoid an overdraft fee. because we believe how you handle overdrafts should be in your control, not just your bank's. low cash mode on virtual wallet from pnc bank. one way we're making a difference. >>> welcome back to "squawk on the street." stocks are moving higher with every sector trading in positive territory today. we're seeing rebounds of some of last week's biggest laggards, especially ones tied to commodities which came under pressure last week one of the area really starting to play out well is the material sector the notable gains, mining and metal stocks and leaders of the pack, cf industries, mosaic as well, paper and pack

out, tesla nearly every automaker has plans to make battery plants and making electric vehicles phil lebeauumbers. phil >> they come to us from alex partners a firm tracking not only ev investments in the u.s. and around the world listen to this through 2025, the auto industry is planning to spend $330 billion with a "b" on ev infrastructure component architecture now 330 billion up 41% here's the reason why we're seeing this money pouring into building new assembly lines, equipment into the plants that will cost billions of dollars. because the ev sales will be surging over the decade. it really ramps up '26 to '30. when you look at u.s. ev sales you are looking at 25 million vehicles most believe you look at at least 24% to 25% of the auto sales being ev worldwide and models for sale that will be electric is ramping up from here today the automaker canoe which has yet to start building the vehicles that it plans to sell over the next several years said it's going to put a plant in prior, oklahoma, just outside of tulsa. shares of ford have been moving a little be the after the company sai

phil lebeau is following it for us up to date, phil >> it is, tyler, a bit higher, but all the comments made by executives to reporters as part of a webcast in the last hour, there's nothing new, nothing that makes you say we haven't heard that before, more reiteration of what they have said in the past executive chairwoman angela strand saying the company is still planning to begin product by late september. what they're targeting, they have binding firm orders to 21 and '22 production of the endurance pickup truck so it's similar to says we've got orders, we will meet the production, but we're not knowing exactly how many are going to be built in those two years. the company says it may have to race money from adjust earlier investors. and they are also seeking additional funds by the way, they could increase plane capacity beyond $20,000 a year that would be -- or 20,000 vehicles a year. excuse me. that would be an element of what they raise money for finally, they continue to have no comment with regard to the s.e.c. investigation that's until way against shares -- them. >>> ahead o

level there between dave calhoun and him, and egshe is t new cfo for boeing >> thank you, phil, phil lebeau. >> he is part of the dave calhoun era. he is also a major executive i don't think this is market-moving news but it's an important part of the transformation of boeing's c-suite. >>> coming up, china's ride rail company didi we have how it stacks up against uber and lyft. >>> virgin galactic grounded today. we've got the details for you when "fast money" returns. this past year has felt like a long, long norwegian winter. but eventually, with spring comes rebirth. everything begins anew. and many of us realize a fundamental human need to connect with other like-minded people. welcome back to the world. viking. exploring the world in comfort... once again. >>> search and rescu >>> we've got more on this block-busted ipo bob? >> that's a good way to describe it didi popped in its debut, but closed 1% higher from $14 where it was priced which is already conservative its current market price of less than $67 billion puts it less than it was a few months ago lyft is around 20 billion. ube

for unfriendly skies 4100 reports of bad behavior by travelers so far this year let's bring in phil lebeausume a lot of this has to do with mask wearing. >> it does, tyler. 75% of the cases reported from the airlines to the faa involve passengers who have said we're not going to wear our masks. and those cases are at the core of more than a half million -- half mbillion dollars worth of fines proposed by the faa. $563,000 worth of fines so far half million, i should say in total fines. the 75% of the passenger cases involve people not wanting to wear masks, and for the faa, the real concern here is that they've seen a surge in physical assaults, particularly of crew members. 60 cases where crew members have been assaulted and when we talked with the head of the faa this morning, he said for him as a former pilot, those stats are particularly scary >> it's really important for everyone to understand that, you know, as a former commercial airline captain, if i'm flying the airplane you don't want me distracted by situations in the back of the aircraft we have zero tolerance we're reaching ou

phil lebeau has the details. charge of southwest airlines since 2004, but starting next february, he is going to be transitioning to a new role. this has been a long and some would say a very successful role, any way you measure it for gary kelly he has steered southwest through a number of challenges most recently, the pandemic and what it did to their flight schedules as well as passenger revenue. he will transition to the executive chairman role in february robert jordan, a long time executive of southwest airlines, will become the ceo, and all of this comes at a time when airlines have a new challenge, and it's a challenge that they have been worried about for several months it seems to be getting worse it has to do with unruly passengers unruly passengers have become such a big problem that the faa now has issued more than 536,000 -- 563,000 proposed fines. it's also saying there are more than 60 cases, 60 cases where flight crews have been assaulted. earlier today, on "squawk box," we talked with faa admini

musk violated terms of his settlement and influenced the price of his stock through his tweets phil lebeaund a couple of tweets from elon musk that happened in 2019 and 2020 that caught the scc's attention the first tweet was in 2019 and had to do with tesla's solar business tweeting spoolg up production hoping to manufacture 1,000 row lumbar roofs a week by the end this year. that was sent in july of 2019 in response to that, tesla's lawyer said look that seemed like an aspirational tweet not necessarily guidance to investors. then in may of 2020, tesla's stock price is too high in my opinion. that was considered a personal opinion according to tesla attorneys. remember in 2018, elon musk, tesla, and the scc agreed to have some of his tweets preapproved at tesla since that settlement look at what tesla has done. it hasn't changed things a whole lot or caused people to say i am not sure i want to be involved we reached out to boththe sec and tesla for comments on this reporting by the "wall street journal. neither replied to our request for comments. >> what about his comments on crypto, a

>>> as international travel returns airports are receiving help from the federal government our phil lebeauh when the federal government is saying, look, what kind of relief can we provide to different sectors for the airports, it was $8 billion. well, they are finally to the point where they will be awarding that money. this comes as passenger levels are improving, but keep in mind we're not seeing much in terms of international travel and business travel is still slow in coming back. nonetheless, when you look at travel numbers over the last let's say month, two month, you've seen a steady increase, down about 20% to 30% depending on the day of the week yesterday's numbers more than 2 million people flew in the number of passengers compared to 2019 down about 25%. so you have passenger levels down 20% to 30%, so for a number of airports they are still not whole. they are still in many ways struggling to make things happen the way they thought they would happen back in 2019. the grants from the federal government of $1 billion will offset lost revenue, fund projects and there's a component

guys, back to you. >> phil lebeau, thank you. also heavy trading around tesla. bullish calls.ford >> sure. i don't know that you really can pull a specific threat around. just like a lot of the downside over the last few months was not really news driven it was the stock really trying to digest a ridiculous move in 2020 relative to what the actual company was delivering it seems like as we talked about earlier, a lot of the high concept, hypergrowth stocks have gotten rekindled a little bit. and it has just, with today's jump, it went -- i mentioned earlier crossed back above the 50-day average still right exact ly where you'd expect it to be if you draw a line down from that peak >> adam, in terms of people hedging for inflation, one sector that gets a lot of discussion is reits. what's your view there >> it's the most risky sector to pick stocks. there used to be stocks that went down. now they can -- people see it as a reopening play with entertainment and lodging and the like the variables used to predict return funds and operations balance sheet. all very correlated. they

for more let's bring in phil lebeau he's at the chicago o'hare airport. port phil >> reporter: courtney, new data from the faa shows just how bad the problem is when it comes to unruly passengers. they just announced another proposed $124,000 in fines bringing the total number of proposed fines this year for unruly passengers to 563,000 according to the faa there are reports from the airlines of more than 3100 unruly passengers now the faa doesn't take action on all of those. they investigate them, but they have taken action on many of them 75% of the cases involve passengers refusing to wear their masks or mouthing off or pushing back when it comes to the requirement that you wear a mask on the airplane and in 60 of the cases, at least 60 of the cases there was a physical assault. this week you're seeing the faa and airlines ramp up pressure to bring more public attention to this issue to the airlines and airline union sending a letter to the attorney general saying these pose a safety and security threat to our passengers and employees. we respectfully r

cnbc phil lebeau joining us now with more. phil, what can you tell us about the order? >> it's a huge one, brian. and behind me is one of the 737 maxes that updated, the interior updated. that's a big part of the story today from united. let's talk about the plane order. 278 aircraft what does that mean? 200 of them will be 737 max's. most will be the largest version, the max 10 pb then 70 airbus a 321 neos, replacing 200 regional jets which really a lot of people are not crazy about. those are rb replaced by larger mainly jets. this is what it's about bringing down the age of the fleet for united airlines. long had the oldest fleet age. that is changing over the next several years. almost 17 years old. that's the average age for an airplane for united airlines and as i mentioned, upgrading the interiors of all of their narrow body planes is a big part, with seatback entertainment larger bins premium seats. ceo scott kirby talked with this this morning on "squawk box." >> we had to actually create the product that customers want. that's what this is about. giving the cu

phil lebeau, break town this morning's ingest. >> no longer at lordstown motors shares again, showingou this because you don't see a 20% drop in the stock every day, but that's what we see from lordstown today. down about 20% after the ceo and cfo resigned ceo, alsoa visionary who put this together. steve burns. talked with him a number of times including in march when the controversy came up with the short seller hindenburg research a lot of what was released today was not just their referring nation, also results of an independent investigation from lordstown motors looking into claims from the short seller hindenburg research that basically said, look, plans for that truck, endurance pick-up truck are not legitimate what they basically said according to an independent probe most claims from hindenburg were false and misleading, however admitted there were statements relating to pre-orders that were inaccurate again, look at shares of lordstown motors, we'll go back and look where the stock was back when it was an ipo in october. here's where it is today so this is a company that is

the biggest 737 max yet taking off moments ago for its first flight and phil lebeau is here with details phil >> let's look at pictures from washington this is the 737 plant. that's where they build all the maxes and just a few minutes ago the max-10, which is the largest version of the 737 max family taking off clear skies this flight is expected to last a couple hours. this is a plane that can carry up to 230 passengers again, the largest of all the maxes that boeing plans to build. there are four versions. the max-8 and max-9 are in service and the max-7 the smallest has yet to be built as you look at this plane keep in mind deliveries of the max-20 will not start until 2023. this is an important hurdle for boeing to overcome as it continues to ramp up production. the company has more than 550 max-10s that have been ordered and the backlog, it stands, i believe, at somewhere over 3,000 ma maxes altogether it's crucial they continue moving forward not only with the max-10 but then with the max-7 couple stocks to keep an eye on. boeing as i mentioned, crucial they continue to make progr

phil lebeau has it for us. >> wilf, take a look at shares of lordstown motors.in a press release that it has received a notification from the nasdaq that it needs to file its first quarter 10q report, which it has not filed yet otherwise the company is at risk of being delisted. we should point out that it is not saying that delisting is imminent the company still has time to file the 10q but this is them saying that they have been notified by the nasdaq that you need to file this report again, that's the reason you're seeing some pressure on lordstown motors right now >> not a great look. phil, thank you. keep us posted on that phil lebeau. >>> when we come back, weighing covid risks. new variants being confirmed in countries around the world former fda commissioner dr. scott gottlieb joins us next on his take of whether that could derail the reopening you can always watch or listen to us live on thgoe on the cnbc app. we'll be right back on "closing bell." >>> the seven-day average of new covid cases in the u.s. is approximately 15,000 that is down 34% from a

phil lebeau took the ceo on, on this very topic.appened >> never said we don't have orders we don't have a product yet. by definition we can't have orders we have very robust interest and that's what they are, they are letters of interest, you can't do any more than that, in this stage, so i don't think anybody thought that we had actual orders we just, that's just not the nature of this business. >> i mean i thought that was an amazing interview because i thought that they had actual orders because of some of the things, i don't know if we can call what he said on "mad money," but letters of interest, i presume that those were, you know, kind of orders what did they say? i am sending you a letter, i am very interested, but i'm not ordering that's possible. i'm very interested in the new maverick >> a letter of intent. >> loi >> kind of an loi. >> the force majeur. >> you speak that language. >> i do. i have >> what happens if it breaks the $10 -- sorry -- it doesn't matter there is no ten dollar dollar -- >> that's the reason you m

ends] >>> the ceo and cfo of lordstown motors resigning, sending shares deep into the red this day phil lebeauey, tyler, there's no bounce in shares of lordstown once the sell-off started this morning, it continued. it's holding now it's been down anywhere between 16% and 20%, now down a little over 17% the ceo steve burns is out, is effective immediately. the cfo has also resigned which raises the question what does wall street think about all this joe spack out with a note about what that means saying we wouldn't be surprised to see a pivot from a production, operational, execution market point of view. this may end up being a change for the better but we envision some major challenges. they have three everybody are pointing to right away they have to find a ceo. they have to secure capital and they need that pretty quickly. they're also talking about a strategic investor why? they plan on starting production of that vehicle, the endurance electric pickup truck by the end of september at least that's the plan as of right now. let's take a look at shares of lordstown going back to the ipo on

phil lebeau is here with the details. >> exterior of the tesla model s plaid -- the first delivery ist in freemont, california is not a whole lot different than the other model ss currently being sold the difference is under the hood with the battery and acceleration terms of the interr 0 to 60 in under 2 seconds they promise. 125 horsepower adequate range at a price of just under $130,000. and then there is the interior why this is getting a fair amount of attention. they have added a yolk the steering yolk with people talking saying i feel like the cockpit flying this thing and exhansed options with karaoke and you would do that in the tesla model s plaid. remember we have not seen an elon musk event streamed like this in sometime i think the cyber truck might have been last one and these are the events typically that really get tesla fans going in part because they hear from elon musk and there is always an energy at the events that no other automaker has been able to match. we'll see if that the case tonight. >> sounds like a fun party, a kay owe key party in the few car but the s

nhtsa, now under a new acting administrator there taking a much tougher approach >> guess it's time phil lebeau>> you might find something new on the grill this holiday weekend. plant-based fish seafood without actual sea creatures. it is raising big bucks as consumers change their dining habits >> reporter: monica talbert may run the seafood company but plant-based wasn't always the plan the all-female family operated seeing what she m lled hiddegwy after seeing overfishing and mislabeling they decided to pursue new products without using fish >> we wanted to do something about it and we thought if not us, then who. that's when we made the decision that we were going to do something to create change >> reporter: so they started without a plant-based crab cake featuring artichokes instead of crab that took off fooling customers. >> no way! so good. >> reporter: who didn't realize there were no fish involved. from there they launched coconut shrimps, scallops and more, all currently sold out online. the company is pushing into select retail stores >> the past two year there's been a huge shift i

industries, wages are a big factor the pay for a security officer starts at 16 bucks an hour cnbc's phil lebeau? >> it depends on the airport, shep in some cases they are severe. those airports that are seeing staffing shortages during the busiest times of the day that's when you see the long lines. according to "the washington post qw post" that did an analysis, they pointed out some airports that there are concerns about staffing there you're talking about detroit, denver, washington, st. louis, boston according to "the washington post" analysis those airports in particular have severe staffing shortages. depending on where you are flying to or out of, shep, you will see very long lines >> are they working on a fix >> they are. we reached out to the, tsa and they say we try to ramp up our hiring for the surge we hired 3,000 officers. they get about 5,000 applications a week. they're offering bonuses, sign-on bonuses and retention bonuses on a monthly basis and they believe they'll be adequately staffed for this summer. >> the tsa asking for volunteers, but airlines, too? >> yeah. both the tsa

from ihs market the average age of registered car is at an all-time high of more than 12 years phil lebeaus, shep. you've got vehicles new and used both at record high prices, average new vehicle close to $40,000, average used vehicle now sells for more than $21,000. that has people saying is it so bad what i'm driving right now and also keep in mind, shep, the other factor is reliability. over the last 15 years the auto industry has steadily improved the reliability of vehicles, they're lasting longer there's no reason to say i got to get rid of it >> i was surprised to see a quarter of all vehicles in the u.s. are at least 16 years old does that mean people are about to ditch them and buy something new? >> no. just the opposite. what people are ultimately deciding to do, shep, is to say look, how long can i drive this vehicle? it used to be when i and i were growing up if somebody had a vehicle more than 100,000 you were like whoa, look at that now 200,000 is nothing it is not uncommon to come across people with 200 or 250,000 miles on the vehicle, they're riding them longer >> you don't

phil lebeau with all of the latest news. >> let's start offer with lordstown motors this was the stockthe day to watch within the auto industry, down at one point more than 20%. now you see down 18.8% once again trading under $10 a share. the ceo, cfo gone. ceo steve burns is completely out of the company he has left the board of directors. and this leaves the question, what is the outlook for lordstown motors near term and further out a couple of huge issues. near term, they are looking for a ceo. they have also got a secure capital. remember last week they issued an s.e.c. filing that they may have trouble be a going concern. longer term, further out at least by the end of the third quarter, they plan to start production of the endurance pickup truck do they have the money to grow production not enough to say we started production by the end of september. you have to continue building and grow your volumes from there. so as you look at lordstown motors, remember that all of this started with hindenburg research saying a lot of what they were saying or promising was complete malarkey.

to the ground than an f-150 for ford what does this mean i asked cnbc's auto industry reporter phil lebeauthis is a chance to expand its trucklineup. look, ford does trucks really well that's the bread and butter for the company, where they make their money. they look at the expansion of the market on the lower end as a chance to bring in buyers who might have wanted a pickup truck but couldn't commit to a full-size pickup truck >> and the thinking is that person, that buyer will go for a hybrid >> yes, because you're looking at primarily an urban or suburban buyer what do they want? they want fuel economy so they will be comfortable buying a gas/electric hybrid that gets great mileage. this is not somebody looking for a pickup truck that has maximum towing capacity. this is somebody driving this truck day in, day out all over the place and wants good fuel economy. >> will the new maverick compete with other hybrids, like, say, the toyota prius >> they'll compete with other hybrids, not necessarily the prius. you're talking about your hybrid crossovers or suvs people who are driving those

phil lebeau joins us with the latest there phil >> andrew, this is an important day for dozens of airportsf to fully commit to the projects, to the payrolls of a number of their people and as a result, they're going to be needing this money that is going to be awarded by the faa. a total of $8 billion. it will be used by the airports in a wide variety of because some to cut debt and some to help pay for lost rent and, yes, there is a component to make sure that at least 90% of the airport employees remain employed by the airports that take these grants. airline passenger levels, they're down anywhere between 20% and 30% depending on the day of the week. i just checked on yesterday's numbers, down 25%. another day where more than two million passengers were flying take a look at the airline index. the passenger levels are approaching 2019 levels. but we're not there yet. we're still down anywhere between 20% and 30% overall. as you see, more business travel come back over the next couple of months. most believe you'll get that back into that down 10% to 20% it's the international component.