Warren Buffett is too 'pessimistic' about airlines' coronavirus recovery, Southwest's CEO says
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- Warren Buffett is too negative about the airline industry's post-coronavirus outlook, Southwest Airlines CEO Gary Kelly told CNN on Wednesday.
- The billionaire investor's Berkshire Hathaway conglomerate sold its stakes in Southwest and the other "big four" carriers in April, partly because Buffett wasn't sure that demand for air travel would bounce back after the pandemic.
- "Mr. Buffett's point is if the world turns out to be as pessimistic as he said, I think you're going to see a shrinkage in travel and tourism," Kelly said. "I'm not sure that I subscribe to that view."
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Warren Buffett is too gloomy about the airline industry's prospects after the coronavirus pandemic, Southwest Airlines CEO Gary Kelly said in a CNN interview on Wednesday.
The famed investor's Berkshire Hathaway conglomerate dumped its stakes in Southwest, American Airlines, Delta Airlines, and United Airlines in April, Buffett revealed at Berkshire's annual meeting on Saturday. The "big four" airlines have seen passenger numbers plummet as authorities restrict travel and people avoid flying during the outbreak.See the rest of the story at Business Insider
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