Warren Buffett Dumps Berkshire Hathaway's Airline Stocks, but I'm Not Selling

Just a few months ago, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) was one of the largest shareholders of all four top U.S. airlines: American Airlines (NASDAQ: AAL), Delta Air Lines (NYSE: DAL), Southwest Airlines (NYSE: LUV), and United Airlines (NASDAQ: UAL). Warren Buffett's conglomerate owned stakes of roughly 10% in all four airline stocks. As of the end of 2019, Delta, Southwest, and United all ranked among Berkshire Hathaway's top 15 equity investments.

However, the COVID-19 pandemic has caused air traffic to come screeching to a halt. As a result, airlines have been reporting losses for the first quarter and expect a tidal wave of red ink starting in the second quarter. Unsurprisingly, airline stocks have plunged since mid-February.

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Source Fool.com