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5/3/2020, 1:04 AM (Source: TeleTrader)
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Buffett says Berkshire sold all of its airline shares

Billionaire investor Warren Buffett said on Saturday that Berkshire Hathaway sold all of its shares of United Airlines, Southwest Airlines, Delta Air Lines and American Airlines amid the coronavirus pandemic. Berkshire's collective stake in the four US airlines was worth several billion dollars, as Buffett had held a stake of between 8% and 11% in the carriers.

Meanwhile, Buffett told Berkshire shareholders that the conglomerate hasn't made any big investments recently because "we don’t see anything that attractive to do."

In early April, Berkshire started divesting its airline stake, noting it sold 13 million Delta shares for a total value of $314.2 million and 2.3 million Southwest shares for a total value of $74.3 million.

Breaking the News / NP