- After famously shunning the airline industry for ever, Warren Buffett has jumped in, with Berkshire Hathaway (NYSE:BRKa) (BRK.A, BRK.B) showing stakes in American Airlines (NASDAQ:AAL), United Continental (NYSE:UAL), and Delta Airlines (NYSE:DAL) as of Sept. 30.
- It's not on the 13F filing, but CNBC reports Berkshire as also having taken a stake in Southwest Airlines (NYSE:LUV).
- Buffett's last play in airlines was a $358M preferred stake in U.S. Airways in the late 1980s. He eventually profited, but not before having to ride major losses which soured him on the industry.
- AAL +3.4%, UAL +1.7%, DAL +2.3%, LUV +3.1% after hours
- Buffett on the airlines circa 2002: “If a capitalist had been present at Kitty Hawk back in the early 1900s, he should have shot Orville Wright ... The airline business has been extraordinary. It has eaten up capital over the past century like almost no other business."
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Buffett buys airlines
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