Buffett made a mistake by investing in the airline


Warren Buffett, one of the world's richest men, said his company, Berkshire Hathaway, had sold all its shares in the four largest US airlines. Buffett also said he had made a mistake in investing in the airline.

Speaking at a virtualized annual meeting with shareholders on Saturday, Buffett said the world had 'changed' because of the coronavirus.

Berkshire Hathaway has lost a record  5 trillion in the first three months of this year. The company released this information yesterday. After a while, Buffett made that comment. This information was given in a report on BBC online.

Berkshire Hathaway had an 11 percent stake in Delta Airlines, 10 percent in American Airlines, 10 percent in Southwest Airlines, and 9 percent in United Airlines, according to the annual report and company files.
Although the company has been avoiding the aviation industry for years, it started investing in four airlines in 2016.

"We have made this decision in terms of the aviation business," Buffett said at the meeting. We basically got the money out of this business even after a substantial loss. But we will not fund any organization ... where we understand that it will only waste our money in the future. '

Buffett also said he was thinking of investing in more airlines before the epidemic hit. He said it was a push to reduce demand. Due to the coronavirus, air traffic in the country is now completely closed.
The US travel industry has collapsed in the wake of the coronavirus epidemic. Airlines have canceled millions of flights. Many have dropped out of business.
Category and Tags
More stories by
Do you know what percentage of Microsoft's code is written with AI?

A significant portion of Microsoft's code is now being written using artificial intelligence (AI), said Satya Nadella, the company's chief executive officer (CEO). At the recent 'LamaCon' AI developer conference held in Menlo Park, California, USA, S

Bangladesh's economy rises to the 2nd largest in South Asia and the 9th largest in Asia.

With a GDP of USD 450.05 billion in 2024, Bangladesh's economy has grown to become the second largest in South Asia and the ninth largest in Asia, according to the Asian Development Bank's Basic Statistics 2025 series. With statistics from 46 econom

Elon Musk's Neuralink will implant blindsight devices in the human brain

                  photo: ReutersNeuralink, owned by Elon Musk, has developed a device suitable for implantation in the human brain to restore vision to the visually impair...

India exports rockets and explosives to Israel aimed at the Gaza genocide

India's export of military equipment to Israel amid the ongoing conflict in Gaza has sparked significant controversy and debate. Critics argue that these exports may implicate India in potential violations of interna...

3ZERO Pitch Competition Held at Dhaka University to Promote Empathy-Driven Entrepreneurship

April 12, 2025 | Faculty of Business, University of DhakaUddog o Uddokta Bangladesh successfully hosted the 3ZERO Pitch Competition and Project Closing Event on April 12, 2025, at the Prof. Dr. Abdullah Farouk Multipurpose Hall, Faculty of Business,

Follow Business Habit on Facebook, Twitter