United CEO Oscar Munoz: Q4 Earnings, China, Government Shutdown

    CNBC Exclusive: CNBC Excerpts: United Airlines CEO Oscar Munoz Speaks with CNBC‘s Phil LeBeau Today

    WHEN: Today, Wednesday, April 24, 2019

    WHERE: CNBC’s “The Exchange

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    The following is the unofficial transcript of excerpts from a CNBC EXCLUSIVE interview with United Airlines CEO Oscar Munoz and CNBC’s Phil LeBeau on CNBC’s “The Exchange” (M-F 1PM – 2PM) today, Wednesday, April 24th. The following is a link to video of the interview on CNBC.com:

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    Q1 hedge fund letters, conference, scoops etc

    United CEO Oscar Munoz talks Q4 earnings, China, government shutdown

    All references must be sourced to CNBC.

    Oscar Munoz on the Timeline of Boeing 737 Max:

    We do not know yet, safety is by far you will hear me repeat this constantly as all of us will. It is the most important part of it. So right now it [July] is our best projection and I think everyone has their own. So we really have no sense of it at this point in time.

    Oscar Munoz on the Safety of Boeing 737 Max:

    I think it is important when we return this aircraft to flight that we do it in relative unison and lockstep around not just the U.S. but the world. I think that is an important part of it so we need to monitor and engage that.

    Oscar Munoz on Customer Safety:

    We are not letting our customers and our employees on an aircraft that we don’t find safe. And so, we will have to reassure them. And if people do have concerns we will always take care of our customers in some way.

    Oscar Munoz on Rising Jet Fuel:

    It goes up and down so often. We go on a forward curve, we adjust accordingly and it is our business. We get paid to be nervous about so many things. So we will keep watching it and let the market adjust accordingly. Very similar to what it did last year.

    Oscar Munoz on Pet Policy:

    We have to make sure that we take care of all our customers. And clearly the ones who need emotional support animals we want to be able to support them, but we have many other customers that don’t. So the recent policy change was meant to do that. I think it is pretty practical to think that any animal of that size flying longer than 8 hours is just – it’s impractical.

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    Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver