Airline Shares Reach Record as Buffett's Berkshire Extends Bet
- Investment firm becomes biggest shareholder in Delta, United
- Evercore sees ‘one of the biggest pivots’ in investing history
Warren Buffett Beefs Up Airline, Apple Bets in 4Q
This article is for subscribers only.
Airline shares reached a record after Warren Buffett’s Berkshire Hathaway Inc. increased its stakes in the four biggest U.S. carriers, adding to a bet that industry consolidation will end the boom-and-bust cycles the billionaire long shunned.
Berkshire’s latest purchases made it the largest shareholder in Delta Air Lines Inc. and United Continental Holdings Inc., and No. 2 in American Airlines Group Inc. and Southwest Airlines Co. The holdings represent one of the biggest common-stock investments in years for the company controlled by Buffett, who once called airlines “a death trap for investors.”