Warren Buffett: ‘I won’t be selling airline stocks’
March 13, 2020
Warren Buffett likes airline stocks despite the recent dramatic sell off so don’t expect Buffett to dump his shares.
“I won’t be selling airline stocks,” he told Yahoo Finance editor-in-chief Andy Serwer this week.
According to recent filings with the Securities and Exchange Commission, Buffett’s Berkshire Hathaway (BRK-A, BRK-B) holds large stakes in several airlines: more than 53 million shares of Southwest (LUV), 42 million shares of American (AAL), 21.9 million shares of United (UAL), and 71.8 million shares of Delta (DAL) after buying almost a million new shares two weeks ago.
Berkshire Hathaway purchased the additional 976,000 shares of Delta at about $46 a share on February 27th. At the close of trading Thursday March 12th, Delta shares had fallen roughly 27.5% in just two weeks driven down by coronavirus related cuts in capacity and reservations.
“Well, it’s going to be terrible. I’ve always felt a pandemic would happen at some time,” Buffett said. He’s long suspected a pandemic could interrupt progress in the United States and globally. But Buffett predicts ultimately, “It won’t stop the progress of the country or the world.”
finance.yahoo.com |
