Home » Business » Buffett: We don’t see anything attractive to make big investments … and we get out entirely of airlines Company news

Buffett: We don’t see anything attractive to make big investments … and we get out entirely of airlines Company news

American billionaire billionaire Warren Buffett, owner of Berkshire Hathaway, presented on Saturday an optimistic assessment of the ability of the United States to overcome crises, even though he acknowledged that the Corona virus epidemic may have widespread impacts on the economy.

Buffett said he was “wrong” regarding investing in the aviation industry, explaining that people would not travel as much during the next three to four years as they did before the Corona pandemic, airlines have too many planes.

He announced that his company, Berkshire Hathaway, has sold all its shares in airlines, including United Continental, Southwest, Delta Air Lines, American Airlines.

Buffett said that airline stock sales accounted for most of the airline’s $ 6.5 billion in revenue in April.

And on the reason why he hadn’t made any major investments, Warren Buffett said, “We don’t see anything attractive.”

Buffett, 89, spoke at the company’s annual meeting in Omaha, Nebraska, which was held online for the first time and without shareholders due to the epidemic. The proceedings of the meeting were broadcast live on Yahoo Finance.

Buffett said the potential impact of the pandemic, which had already badly damaged the global economy, had a “unusually wide scale”.

But he maintained his usual optimism that the United States would deal with it successfully, noting that it emerged from crises such as World War II and the influenza pandemic 100 years ago.

“I remain convinced that there is nothing that can stop America,” said Buffett.

.

Leave a Comment