Poll: What is the Industry impact of Warren Buffett’s sale of his U.S. airline stocks?
Some four years ago, American billionaire investor and Berkshire Hathaway CEO Warren Buffett thrilled the US major airlines when he bought stakes in each. This was a massive endorsement by a financial icon that underscored the carriers’ own beliefs that they were now part of a restructured, sane and investment-worthy industry.
Buffett’s announcement at the weekend that he had sold off all his airline stocks—a 10.1% stake in Southwest Airlines, 10% in American Airlines, 9.2% in Delta Air Lines and 7.6% in United Airlines—was not surprising. But the negative impact will be at least as seismic on the industry as the positive effects of his original investments.
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