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Fri Apr 3, 2020, 08:07 PM

Berkshire Hathaway sells part of Delta, Southwest airline stakes

Source: Reuters

BUSINESS NEWS APRIL 3, 2020 / 5:40 PM / UPDATED 37 MINUTES AGO

(Reuters) - Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) said on Friday it sold about 18% of its stake in Delta Air Lines Inc (DAL.N) and 4% of its holdings in Southwest Airlines Co (LUV.N) this week, as the coronavirus pandemic drives the airline industry into perhaps its biggest crisis ever.

According to regulatory filings, Berkshire sold nearly 13 million Delta shares for about $314 million and roughly 2.3 million Southwest shares for about $74 million.

The sales were conducted on Wednesday and Thursday, the filings show. Berkshire previously owned about 11.1% of Delta stock and 10.4% of Southwest stock, according to Refinitiv data. No reasons for the sales were given.

Berkshire did not immediately respond to a request for comment sent to Buffett’s assistant.

Read more: https://www.reuters.com/article/us-berkshire-stake-airlines/berkshire-hathaway-sells-part-of-delta-southwest-airline-stakes-idUSKBN21L393?il=0



-snip-

Well if you only have ten people on the plane and the commercial flights are reverting to cargo............and cargo is down, well you sell...........................

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Response to turbinetree (Original post)

Fri Apr 3, 2020, 08:20 PM

1. It will be interesting to see how the airline industry is reconstituted after this

pandemic passes.

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Response to Sherman A1 (Reply #1)

Fri Apr 3, 2020, 08:31 PM

3. International / domestic travel will be changed, particular travel for business and pleasure.

With teleconferencing, there's less value sending a lot of reps to the field. Why not save * and make that the business standard. People vacationing may not be as likely to travel by plane. I think the Cruise Industry is going to crater as well.

Buffett probably wished he had sold 4 weeks ago....

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Response to OAITW r.2.0 (Reply #3)

Fri Apr 3, 2020, 10:39 PM

4. I think there will always be a need for air travel.

But the airline industry will go through a serious safety and cleanliness overhaul before things get back to normal. Cruises though? I can't imagine anyone in their right mind going on a cruise after this. They too will have to adapt to the new normal or they will be a thing of the past.

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Response to OAITW r.2.0 (Reply #3)

Fri Apr 3, 2020, 11:35 PM

5. I think people will probably still be willing to travel by air for vacations due to the benefits it

provides of saving on travel time as well as opening up more places that people can travel to.
That doesn't mean it will be the same as now as I suspect what you will see at least one merger if not more as well as I think you will see airlines struggle for a bit to entice people back and the only way to do that will either by lowering fairs and or by giving them more seat room.

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Response to Sherman A1 (Reply #1)

Sat Apr 4, 2020, 08:05 AM

7. Offering masks to everyone biarding is a start. Publicizing their cleaning regimen is another.

Supposedly their air filtering system does filter 99% of everything, from what i have read. But the guy next to you isnt. So everyone mask up.

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Response to turbinetree (Original post)

Fri Apr 3, 2020, 08:21 PM

2. No, you buy low and sell high

Airline stocks are cheap, buy them now to double your money.

Hey I beat Berkshire Hathaway this year. That stock is down 22%, my portfolio is down 11%.

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Response to at140 (Reply #2)

Sat Apr 4, 2020, 08:03 AM

6. you need to start your own page here on DU for us idiots.

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Response to oldsoftie (Reply #6)

Sat Apr 4, 2020, 08:53 AM

8. Some of the airlines will be gone.

I'm not talking about mergers, but liquidation. Stockholders are last in line. They are currently worth a Trump promise imho.

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Response to oldsoftie (Reply #6)

Sat Apr 4, 2020, 09:04 AM

9. great discounts on airline & cruise line stocks

diversify and spread your money into 5 companies, preferably the largest ones.
Such as Carnival, American air, etc
Then be patient. Use money you wont need for 2 years.
You have excellent chance of doubling your money in 2-3 years.

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Response to at140 (Reply #9)

Sat Apr 4, 2020, 02:55 PM

12. Yes, i'm still 10 yrs or so away from "total" retirement, so hopefully I can tough this out

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Response to turbinetree (Original post)

Sat Apr 4, 2020, 09:33 AM

10. When I see the name Berkshire Hathaway I think, isn't that a character from the Beverly Hillbillies?

Does this happen to anyone else?

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Response to Canoe52 (Reply #10)

Sat Apr 4, 2020, 10:01 AM

11. Jane's grandpa?

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