Air Freight News

Berkshire boosts Delta Air stake by $45 million amid market rout

Warren Buffett’s Berkshire Hathaway Inc. boosted its stake in Delta Air Lines Inc. last week, taking advantage of bargain prices amid market declines.

Berkshire acquired more than 976,000 shares for about $45.3 million, or an average price of $46.40, according to a filing Monday. Delta stock dropped about 20% last week as markets plummeted on concern about the coronavirus.

Buffett, Berkshire’s chairman and chief executive officer, is famous for buying during declines, saying he’s betting on the long-term health of the U.S. economy. Berkshire’s holding in Delta swelled to about 71.9 million shares with the Feb. 27 purchases, the filing shows.

Bloomberg
Bloomberg

{afn_job_title}

© Bloomberg
The author’s opinion are not necessarily the opinions of the American Journal of Transportation (AJOT).

Similar Stories

https://www.ajot.com/images/uploads/article/2024_concludes_with_double-digit_air_cargo_demand.jpg
A flying start to 2025 but after 14 months of double-digit demand growth, air cargo stakeholders remain cautious
View Article
Pharma.Aero expands global network with six key new members

CEVA Logistics, Skandi Network, SCL Cold Chain, Shipex NV, Pharming Group, and ARTBIO join the life sciences logistics collaborative platform

View Article
https://www.ajot.com/images/uploads/article/cam-bolton-wilson_copy.jpg
Chapman Freeborn appoints Bolton-Wilson VP Humanitarian and Government
View Article
https://www.ajot.com/images/uploads/article/Preem_s_IsoCracker_plant.png
Alleima supplies Preem in the green transition of the aviation industry
View Article
https://www.ajot.com/images/uploads/article/David_O._King_.jpg
Airforwarders Association new board member King elected
View Article
https://www.ajot.com/images/uploads/article/Members_of_the_SATS%2C_WFS_and_Air_India.png
Air India extends SATS and WFS partnership with 14 new cargo and ground handling contracts across global network
View Article