By admin May, 02, 2020 Editors Pick

Earlier last month, Investingport reported that Warren Buffett’s investment company Berkshire Hathaway sold it’s airline stocks down to below 10 percent in what seems like a preparation to exit all $6.1 billion investment position in all 4 major airlines without disrupting the market in the process.  

Warren has a lot of followers, and when he sells, many funds and regular people sell too. He sold all his firm's airline stocks in April, 2020.  

Here is what we know for now, during the Berkshire Hathaway annual meeting on Saturday, Warren said “ It turned out I was wrong” while revealing that he sold all positions in Delta, United, American Airlines and Southwest. 

He also said that the Airlines were well managed and that the CEOs did a lot of wonderful things right.  “ the airline business changed in a very major way” he added. 

Even if passenger volumes bounce back to 70% or 80% of their pre-coronavirus levels, he said, the carriers will be left with "too many planes."

"The future is much less clear to me," Buffett said about the airline business. 

To be continued 

Read about our previous post about Warren's initial airline stocks sales here. 

Tags: Coronavirus Warren Buffett Warren Buffet Investingport Delta Airline American Airlines Southwest Berkshire Hathaway Stocks market DAL UAL LUV BRK-B BRK-A BRK

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