Yahoo Finance
Warren Buffettspent years telling anyone who would listen that airlines were a terrible business to own.
Buffettcalled them a "capital trap," a place where fuel costs and fare wars could erase profits almost overnight.
Then Covid hit, andBerkshire Hathawaydumped its entire airline portfolio in 2020, locking in steep losses.
"The world has changed for airlines,"Buffettsaid at the time.
So it says something that Berkshire (BRK.A) has now done the opposite.
The conglomerate has been steadily building a position inDelta Air Lines, and the numbers show real conviction.
According to recent13F filings, Berkshire's stake in Delta jumped 44% during the second quarter of 2026, climbing to 57.3 million shares.
That position was worth roughly $5.4 billion at the end of June.
Back in May,I reportedthat Berkshire had already built a Delta position worth about $2.6 billion as of the end of March 2026.
That earlier purchase came duringGreg Abel's first quarter running Berkshire after taking over as chief executive from Buffett in January.
Abel had laid out his approach to shareholders in February.He wrotethat Berkshire has "core" positions it will not sell, but outside those, the firm plans to stay disciplined and concentrated.
The Delta buy, and the decision to nearly double down on it a quarter later, fits that description closely.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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