Home / BUSINESS / Billionaire Warren Buffett invests in 3 big US airlines

Billionaire Warren Buffett invests in 3 big US airlines

Warren Buffett

Warren Buffett

Billionaire investor Warren Buffett has taken stakes in three large US airlines, in a $1.3 billion bet that marks a sharp U-turn of his antagonistic views on the sector.

Buffetta��s Berkshire Hathaway Inc. invested $797 million in American Airlines, $249 million in Delta Air Lines and $237 million in United Continental Holdings, according to a regulatory filing reviewed Monday by AFP.

Berkshire Hathaway also took a stake in Southwest Airlines, CNBC television network reported Monday.

The financial guru was known for his dislike of the airline industry after his disastrous bet on preferred shares of US Airways in 1989, calling the sector a a�?death trap.a�?

The surprise Berkshire news pushed airline shares sharply higher in after-market trades. American Airlines jumped 3.5 percent, Delta was up 2.9 percent and United Continental, parent of United Airlines, gained 2.6 percent.

Buffett, the head of the massive Berkshire Hathaway conglomerate, is the worlda��s third wealthiest person.

About Latest News Feed

Check Also

Juventus Superstar Tests Positive For Coronavirus

Shares Facebook Twitter Google+ I Like It 0 Italian professional footballer, Daniele Rugani who plays …

Leave a Reply

Your email address will not be published. Required fields are marked *

Share This

Share This Now

Is it interesting ? Share this post with your friends!

Share This

Share this post with your friends!