Buffett's Berkshire Invests in Airlines
November 14 2016 - 5:30PM
Dow Jones News
Warren Buffett's Berkshire Hathway Inc. on Monday disclosed new
stakes in three of the largest U.S. airlines.
Berkshire Hathaway said in a regulatory filing that had taken
stakes in American Airlines Group Inc., Delta Air Lines Inc. and
United Continental Holdings Inc., with the latter scheduled to hold
its investor day on Tuesday.
Shares of airlines surged earlier this year, thanks in part to
sliding oil prices, but their performance recently has been mixed.
For the year, the Dow Jones U.S. Airlines index is up 0.7%.
It wasn't clear if the decision to invest in airlines came from
Mr. Buffett or one of his stock-picking lieutenants.
Mr. Buffett famously derided investing in airline stocks after
suffering losses from purchasing preferred stock in what was then
known as USAir back in 1989.
(END) Dow Jones Newswires
November 14, 2016 17:15 ET (22:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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