Is It Over? Buffett Sells All Airline Stocks, Including UA, AA, Southwest, and Delta

According to CNBC, Buffett’s company Berkshire Hathaway sold off all of its positions in the U.S. airline industry, worth more than $4 billion.

• Berkshire Hathaway Chairman and billionaire value investor Warren Buffett said that the conglomerate has sold the entirety of its position in the U.S. airline industry.
• The prior stake, worth north of $4 billion dollars, included positions in United, American, Southwest and Delta Airlines.
• “The world has changed for the airlines. And I don’t know how it’s changed and I hope it corrects itself in a reasonably prompt way,” he said.
• Buffett said he admires the airlines, but that sometimes there are events like the coronavirus “on the lower levels of probabilities” that necessitate a quick change.
• He added: “When we sell something, very often it’s going to be our entire stake: We don’t trim positions.”

In short, the Oracle of Omaha is not optimistic about the future of airlines for now. Should you think about cashing out your points and miles?

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