I haven't mentioned the
Oracle of Omaha for almost 14 years;
Berkshire Hathaway Chairman Warren Buffett said [edit: he said
yesterday] "
that the conglomerate has sold the entirety of its position in the U.S. airline industry." This bodes badly for all airlines. From
CNBC, "
I think there are certain industries, and unfortunately, I think that the airline industry, among others, that are really hurt by a forced shutdown by events that are far beyond our control,"
No kidding. Warren Buffett in March: "
I won’t be selling airline stocks"...
50 days is a long time. To put that in perespective, last December BH Inc owned a 10% stake in American Airlines, 9.2% of Delta shares, 10.1% of Southwest Airlines shares and 7.6% of United. Needless to say the COVID-19 pandemic is the airline industry's worst-ever crisis, them and a few others!
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