Delta Air Lines CEO Ed Bastian said he's confident Boeing will figure out a software fix for the 737 Max jets involved in two crashes that killed 346 people over five months.

"We have the ultimate confidence in Boeing. They are a great partner. Our largest fleet partner is Boeing. I know they're going to get to the right answer. ... We'll stay close to Boeing and see how they progress," Bastian said Wednesday morning on CNBC's "Squawk Box."

The aircraft hasn't been allowed to fly since mid-March. But Delta, which doesn't have any 737 Max jets in its fleet, has largely avoided the fallout from the prolonged grounding, reporting Wednesday that it had record revenue and a big jump in profit for the first quarter that beat Wall Street's expectations.

The airline industry has been reeling from the aftermath of the crashes in Ethiopia on March 10 and Indonesia on Oct. 29. Boeing said it will cut 20 percent of its 737 Max production as it works on a software fix. Bad data feeding into the aircraft's automated flight system is suspected as a possible cause of the crashes.

The company's shares have have fallen nearly 9% in the past month. Wall Street analysts recently downgraded Boeing and Southwest Airlines; American Airlines, which has 737 Max jets in its fleet, cut its revenue guidance for the first quarter and canceled 1,200 flights. Delta has largely been insulated from the fallout.