The CEO to follow today to measure the rebound in air travel
United Airlines President Scott Kirby speaking in Chicago, Illinois on June 5, 2019.
Kamil Krzaczynski | Reuters
Trying to measure the rebound in air travel? See United Airlines CEO Scott Kirby. A year ago, Kirby, then president of the Chicago-based airline, was perhaps the most pessimistic airline chief about the Covid-19 pandemic, warning investors at a JP Morgan industry conference in March that the airline it was bracing for a sharp drop in revenue.
The drops even exceeded Kirby’s expectations. American airlines lost a total of $ 35 billion last year.
After Congress passed each of the two rounds of government payroll support last year, Kirby and other United executives warned of the challenges ahead. After Congress passed a third round of payroll aid last week, Kirby appeared to take a more optimistic tone, saying in a LinkedIn post that “our teams will be able to stay current on their training and ready to meet future demand. expected “.
Kirby, who became CEO of United last May, returns to JP Morgan’s industry conference today, presenting at 9:40 a.m. ET
Covid case spikes in Europe are no longer a forecast of what the US can expect, says Gottlieb
Dr. Scott Gottlieb told CNBC that developments of the coronavirus in Europe are likely no longer predictive of what will happen a few weeks later in the US, unlike earlier phases of the pandemic.
“Everything that happened in Europe finally happened here. Now I think the tables have turned. We are ahead of Europe,” said the former FDA chief.
Some European nations like Italy are re-establishing stricter public health restrictions in response to an increase in Covid infections. However, Gottlieb noted that the US has a higher proportion of its population receiving at least one dose of coronavirus vaccine compared to member states of the European Union and the European Economic Area.
“The fact that we haven’t seen a sudden rise in the coronavirus … even as B117 becomes the predominant strain in the United States, I think it bodes well,” Gottlieb said.
Disclosure: Scott Gottlieb is a CNBC contributor and a member of the boards of Pfizer, genetic testing startup Tempus, and biotech company Illumina. Gottlieb also serves as co-chair of Norwegian Cruise Line Holdings and Royal Caribbean’s “Healthy Navigation Panel.”
Hundreds of Tesla workers tested positive for Covid
Public health data released over the weekend indicates that hundreds of Tesla workers tested positive for coronavirus at the company’s factory in Fremont, California.
Emily Glazer, a reporter for The Wall Street Journal, and Dan Primack, Axios business editor, joined CNBC’s “Squawk Box” to discuss the development, as well as other big headlines from Tesla.
European Union countries clash over unequal distribution of vaccines
Six European Union countries – Austria, Latvia, Czech Republic, Bulgaria, Croatia, and Slovenia – have raised concerns about how the bloc is distributing Covid-19 vaccines after AstraZeneca cut its delivery targets once again.
They worry that, without any change, some EU nations “could achieve herd immunity in a few weeks, while others would be left far behind,” they said in a letter.
Your complaint follows news that AstraZeneca will not meet its delivery targets in the coming months. The Swedish-British pharmaceutical firm confirmed to CNBC that it will deliver 30 million doses to the EU at the end of the first quarter and another 70 million doses during the second quarter.
These numbers are below what the block expected to receive.
Facebook will start tagging all posts about Covid vaccines
The Facebook logo is displayed on the screen and keypad of a phone
Jakub Porzycki | NurPhoto via Getty Images
Facebook will begin adding tags to posts about Covid-19 vaccine safety and will soon tag all posts about vaccines, Reuters reported.
The social media giant has come under fire for allowing misinformation about vaccines to spread on the company’s platforms, according to Reuters.
Facebook said it is also launching a tool in the US to provide users with information on where to get Covid vaccines and add a Covid information area to its Instagram photo-sharing site, the cable service said.
Ireland and the Netherlands join growing list of countries to discontinue use of AstraZeneca vaccine
Ireland and the Netherlands have become the latest countries to suspend the use of the coronavirus vaccine developed by AstraZeneca and the University of Oxford for safety reasons.
Several European countries, including Denmark, Norway, Iceland and Bulgaria, have already stopped the use of the Oxford-AstraZeneca vaccine following reports of blood clots in some vaccinated people. Thailand became the first Asian country to stop using the jab last week.
The Dutch government has said that the Oxford-AstraZeneca vaccine will not be used across the country until at least March 29, while Ireland said earlier that day that it had temporarily suspended the injection as a precaution.
The World Health Organization has tried to downplay the ongoing safety concerns, saying last week that there is no link between the injection and an increased risk of developing blood clots.
JetBlue Says Reserves Are Rebounding As Industry Upsides
JetBlue Airways says demand for air travel has rebounded in recent weeks, a trend that will help reduce the airline’s losses as passenger numbers rise to the highest levels in a year.
“Although booking trends continue to be choppy, in recent weeks JetBlue has seen an improvement in bookings for pleasure and visits to friends and family …”, says JetBlue in a document.
New York-based JetBlue says it expects its EBITDA to be $ 490 million and negative $ 540 million, down from a previous loss estimate of $ 525 million to up to $ 625 million. First-quarter revenue is still down 61% to 64% from 2019 in the first quarter of the year, he estimated, after previously forecasting a decline of up to 70%.
Shares of JetBlue were up 4.7% in premarket trading.