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Warren Buffett's Berkshire Hathaway took a $5 billion hit on its airline stocks last quarter

Warren Buffett's Berkshire Hathaway took a $5 billion hit on its airline stocks last quarter
Getty Images / Bill Pugliano



Warren Buffett's Berkshire Hathaway took a $5 billion hit from airline stocks in the first quarter as the novel coronavirus hammered demand for flights.




The billionaire investor's company owns more than 8% of all four major US airlines.




Shares in American, Delta, Southwest, and United plunged by an average of 52% last quarter.




However, Buffett's long-term view could lead him to double down on the struggling airlines.




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Warren Buffett's Berkshire Hathaway probably saw $5 billion wiped off the value of its airline holdings in the first quarter as the novel coronavirus deterred people from flying and forced authorities to halt flights.
The famed investor's conglomerate owns between 8% and 11% of the big four US airlines — American Airlines, Delta Air Lines, Southwest Airlines, and United Airlines — assuming its holdings haven't changed since December 31, the date of its last portfolio disclosure.
The quartet's market capitalizations fell by an average of 52% in the first three months of 2020. United stock plunged 65%, while American and Delta shares more than halved in value. Southwest, down 35%, was the relative outperformer.
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