Airline Returns Refute Buffett Aversion to U.S. Carriers
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U.S. airlines, shunned by Warren Buffett for almost 25 years, are now rewarding investors with the biggest returns in more than a decade.
The Bloomberg U.S. Airlines Index of 10 carriers surged 35 percent in the first quarter, the best start to a year since at least 1999. Wall Street projects that gains are just beginning for Delta Air Lines Inc. and US Airways Group Inc., with both rated higher on average by analysts than 92 percent of U.S. companies, according to data compiled by Bloomberg.