Berkshire Bets on Airlines With Stakes in American, Delta
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Warren Buffett’s Berkshire Hathaway Inc. bet on the biggest U.S. airlines, reversing decades of aversion to the industry.
Berkshire held 21.8 million shares of American Airlines Group Inc. as of Sept. 30, valued at almost $800 million at the time, according to a regulatory filing Monday from the billionaire’s Omaha, Nebraska-based business. Buffett’s company also reported 6.33 million shares of Delta Air Lines Inc. and another 4.53 million of United Continental Holdings Inc., according to the filing. And Berkshire added an investment in Southwest Airlines Co. after Sept. 30, CNBC reported, citing Buffett.