Skip to main content

Market Overview

'I Was Wrong': Warren Buffett's Berkshire Hathaway Sold $6B Of Airline Stock In April

'I Was Wrong': Warren Buffett's Berkshire Hathaway Sold $6B Of Airline Stock In April

Warren Buffett made a big admission on Saturday evening: He was wrong about airlines.

Buffett said Berkshire Hathaway Inc (NYSE: BRK-A)(NYSE: BRK-B) net sold $6.5 billion of securities, including all of its airline stock holdings, in April.

"Not because we thought the stock market was going to go down," Buffett said at the annual shareholder meeting. "I just decided that I'd made a investing in the airlines business."

Berkshire Hathaway was one of the largest shareholders of several airlines, and had dramatically boosted its holdings in Delta Air Lines, Inc (NYSE: DAL) after the coronavirus pandemic started. That fueled some speculation Buffett could step in again with major investments in one or more of the airlines, or possibly even buy one.

See Also: Warren Buffett Praises Fauci After Berkshire Hathaway Posts Record Loss Amid Coronavirus Pandemic

"It's a very difficult business," he said Saturday. "The future is much less clear to me how the business will turn out."

Berkshire also owned significant stakes in American Airlines Group Inc (NYSE: AAL), United Airlines Holdings Inc (NYSE: UAL) and Southwest Airlines Co. (NYSE: LUV).

Below are a few quick reactions:


Related Articles (DAL + AAL)

View Comments and Join the Discussion!

Posted-In: airlines Coronavirus Warren BuffettNews Travel Top Stories General Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at