Warren Buffett sold its stake in Delta and Southwest Airlines

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New York, Ta. April 6, 2020, Monday

World billionaire investor Warren Buffett sold his stake in Delta Airlines and Southwest Airlines, two of the world's leading airline companies, amid concerns over a sustained backlash reported in markets around the world over the hostility posed by the Corona virus.

According to data from the US Securities and Exchange Commission, the world's largest investor, Warren Buffett's Berkshire Hathaway Company, sold $ 5 million worth of shares of Delta Airlines. The deal was owned by a 5% stake in Delta Airlines.

The stock was sold by Warren Buffett's company after it was announced that the company's earnings would fall 5 percent in the second quarter of fiscal year 2, according to US market circles.

In addition, Buffett's Workshire Hathaway Company sold 2.5 million shares of Southwest Airlines Company for $ 1 million. Thus, in view of adverse reports, the move was taken in view of the hostile environment caused by the loss of air traffic globally.

According to market and industry knowledgeable circles, more than 3 commercial aircraft, private jet wheels have been stopped following the announcement of lockdown in India. In addition, passenger flights also suffered severe damage to the airline sector due to slowdown.

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