Esha Dey and Mary Schlangenstein

Business

US Airlines Tumble After Buffett Abandons Bet on Industry

Warren Buffett, chairman and chief executive officer of Berkshire Hathaway, speaks at a business summit in Washington in 2018. Warren Buffett, chairman and chief executive officer of Berkshire Hathaway, speaks at a business summit in Washington in 2018. (Andrew Harrer/Bloomberg News)

U.S. airline stocks plummeted May 4 after Warren Buffett dumped his stakes in the four biggest carriers, saying the industry’s prospects had been upended by the coronavirus pandemic.

May 4, 2020