Washington: Warren Buffett announced to sell all his shares in airlines at the annual meeting of shareholders. This year this meeting was done online. Warren Buffett, one of the world's greatest nobles, has said that his company Berkshire Hathaway has sold all its shares in four of America's largest airlines.
At the annual meeting of shareholders, Buffett said that due to the Coronavirus "there have been many major changes in the world". Due to Corona epidemic, this year the meeting was organized online. At the meeting, Buffett said that his decision to invest in the airline industry was wrong. According to Reuters news agency, just before Buffett's statement his company Berkshire Hathaway announced a record $ 50 billion loss in the first quarter.
According to the company's annual report and company filing, Warren Buffett had invested in four major airline companies in the United States. His names were 11% in Delta Airlines, 10% in American Airlines, 10% in Southwest Airlines and 9% in United Airlines. Warren Buffett's company started investing in airline companies from the year 2016.
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