WASHINGTON, May 2 (Xinhua) -- Billionaire investor Warren Buffett, who serves as Berkshire Hathaway chairman, said Saturday that his conglomerate has sold all its airline stocks, sending an alarming signal to U.S. airline industry devastated by the COVID-19 outbreak.
"The world has changed for the airlines," said Buffett in Omaha, Nebraska, at Berkshire Hathaway's annual shareholder meeting, which was held virtually this year.
"And I don't know how it's changed and I hope it corrects itself in a reasonably prompt way," he said. "It turned out I was wrong about that business."
The Berkshire Hathaway previously held shares of United Airlines, American Airlines, Southwest Airlines and Delta Airlines, worth over 4 billion U.S. dollars in December, but stocks are down by 69.7 percent, 62.9 percent, 45.8 percent, and 58.7 percent this year, respectively, according to a report from CNBC. Enditem
