With a midair emergency, disappointing profit forecast and more aircraft groundings after only two weeks, the airline industry is already off to a turbulent 2024.
"It's a labor intensive, capital intensive, largely commodity-type business," Buffett said during the annual meeting of Berkshire shareholders in 2013.
Selling airlines In 2020, Buffett revealed that Berkshire sold all of its equity holdings in the U.S. airline industry.
That included stakes worth a combined $4 billion in all four legacy carriers — United Airlines , American Airlines , Southwest Airlines and Delta Air Lines .
And I don't know how it's changed and I hope it corrects itself in a reasonably prompt way," Buffett said then.
Persons:
Warren Buffett, Buffett, Berkshire Hathaway, That's, he's, I've, Charlie Munger, it's, Donald Trump, ’ Buffett, Kitty Hawk, Orville, Richard Branson
Organizations:
Berkshire, U.S, — United Airlines, American Airlines, Southwest Airlines, Delta Air Lines, Buffett, U.S . Global JETS ETF, JETS, Chicago Cubs, CNBC, Virgin Atlantic Airways
Locations:
Omaha, NetJets