Squawk on the Street SOTS 2nd Hour: Moody's Chief Economist, United CEO, & More Private Credit Concerns 3/24/26
Mar 24, 2026
Jim O'Neill, former UK Treasury minister and ex-Goldman Sachs AM chair, brings global economic and geopolitical perspective. Mark Zandi, Moody’s Analytics chief economist, offers macro outlook and recession risk views. They discuss productivity and AI potential, private credit liquidity worries, Middle East headlines, and rising recession concerns in short, punchy conversations.
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Fuel Drives Fares As Second Biggest Airline Cost
- United expects fares to rise in line with oil because fuel is the airline's second-largest input after labor.
- Scott Kirby said fare increases and a 5% capacity reduction aim to pass through input costs while acknowledging demand elasticity will reduce some flying.
Premium Demand Outpacing Economy On New Dreamliner
- Premium travel demand is outpacing economy as United expands Polaris and adds premium suites on the 787 Dreamliner.
- Scott Kirby noted United's hubs (Newark, Dulles, SFO) give it pole position to capture higher-yield international premium traffic.
Runway Limits Mean The US Needs Slot Controls
- U.S. airports likely need slot controls because runways are fixed and capacity cannot expand infinitely.
- Scott Kirby praised FAA staffing improvements and said Newark and Chicago are moving toward limitations to manage congestion and safety.