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WHEN: Today, Wednesday, October 11, 2017
WHERE: CNBC's "Squawk Box"
Following are excerpts from the unofficial transcript of an EXCLUSIVE CNBC interview with Delta Air Lines CEO Ed Bastian today on CNBC's "Squawk Box." Following is a link to video of the interview on CNBC.com: https://www.cnbc.com/video/2017/10/11/delta-ceo-edward-bastian-one-on-one.html.
All references must be sourced to CNBC.
BASTIAN ON DEMAND:
The thing I am most impressed with though is the demand for our product is really great. 17 out of 20 busiest travel days in our history we had this summer. So people are traveling on Delta, they're loving the product and the outlook is strong on demand.
BASTIAN ON TRANSATLANTIC TRAVEL:
Currencies is also having a benefit with the weaker dollar in terms of the desirability of travel going over to Europe, but it is the first time in about 3 years where our international unit revenues outpaced our domestic unit revenues, so we feel good about that trend going forward.
BASTIAN ON PRICING:
Our market, we are very competitive. And to me it is very much about demand. When you have the strength of the demand for the product and the quality of service that the Delta team is providing that is overcoming some of the pricing skirmishes that you read about in our industry.
BASTIAN ON CSERIES PRODUCT:
We are in the early stages of where that negotiations are going to go. Bombardier CSeries product is innovation. It brings a 100 seat product to our market that no U.S. manufacturer produce. Boeing stopped producing it in fact 10 years ago, the 717 and we are the largest user of the 717. It creates over 20,000 jobs in the U.S. and it is innovation that this marketplace needs. It is one of the most environmentally friendly aircraft on the market and we are looking forward to taking it.
BASTIAN ON CSERIES DEAL:
We got a great price on the aircraft, but at the same time, it's great innovation that Boeing did not have a product to compete with. And that's why they went the government route rather than competing in the marketplace.
CNBC's Phil LeBeau: But can you give me a price there?
Bastian: I will not give you a price.
LeBeau: You will not give me a price.
BASTIAN ON UPGRADES:
We've metered that back. We still have a substantial number of our seats that are eligible for upgrade for free in First Class. We also on Delta we have the most number of First class seats in the market of any carrier in the marketplace. And the upgrade ticket for those that actually want to purchase the upgrade is about $125, so it not a substantial price point for people that actually want to confirm rather than go through the lottery around an upgrade.
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