This is dummy text as title
- According to regulatory filings, Berkshire sold nearly 13 million Delta shares for about $314 million and roughly 2.3 million Southwest shares for about $74 million.
- The sales were conducted on Wednesday and Thursday, the filings show. Berkshire previously owned about 11.1% of Delta stock and 10.4% of Southwest stock, according to Refinitiv data. No reasons for the sales were given.
- Berkshire did not immediately respond to a request for comment sent to Buffett’s assistant.
- The Omaha, Nebraska-based conglomerate is among the biggest shareholders of the four largest U.S. carriers – Delta, Southwest, American Airlines Group Inc and United Airlines Holdings Inc.
- Buffett has said three of the airline stakes are overseen by him, while one of his portfolio managers, Todd Combs and Ted Weschler, oversees the fourth.
- Berkshire’s sales were disclosed after major U.S. airlines applied on Friday for payroll grants from the U.S. Treasury to help keep workers employed.