Buffet exits US airline investments

Warren Buffett’s investment firm Berkshire Hathaway  has exited the US airline industry having sold all its shares in  American Airlines, Delta Air Lines, United Continental Holdings, and Southwest Airlines. Selling down its positions will crystallise a major loss for Buffets firm, with Hathaway holding stakes of roughly 10% in each of the airline and comes after the investment house saw $50 billion wiped off its portfolio in the first quarter due to stock market falls. Speaking at the company’s annual meeting Buffet did not criticise airline management and instead justified the decision based on a fundamentally altered landscape for air travel. “The