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Billionaire investor Warren Buffett, chairman of Berkshire Hathaway, told shareholders on Saturday that he had sold all of the company’s airline stocks ... all of his stakes in the four largest U.S. airlines
His positions in United, American, Southwest and Delta Airlines were cumulatively worth north of $4 billion.
It's interesting to think what that means.
He feels there is no upside - and it may get worse. Word is that one or two of those names may end up in bankruptcy.
United Airlines will cut 3,400 non-pilot positions in October, and is likely to lay off
some 30 percent of its 12,000 pilots, according to reports in Reuters.
There is a guy that was at a coin show with old railroad stock certificates for $2. They are void now but back in the day were probably with lots of money. They are pretty neat. I was going to buy one but did not want to be carrying it around, then I forgot.
I don't think we are anywhere near the bottom of the market yet - lots more down to come imho.
Same with Airlines - once the wage subsidies end there will be mass layoffs imho.
One Airline is only predicting operations at 50% in one year and 3 years for a full recovery. This is the optimistic scenario according to the Airline.
At the moment I'm still employed. I'm looking at things month by month. May is fine and I just heard that June looks good as well. After that is anybody's guess. I'm taking things one flight at at time. Just happy to have a job.
Roster has been cancelled - it's flights or rest/off in a hotel. All meals and laundry paid so no costs. We were told to plan to be away 3 months.
I am doing China flights. We are not allowed to overnight in China so there's a waiver to fly out and back! 6 Pilots - 3 for each sector. Flew Guangzhou - Philadelphia last week. We live on board for 2 days. Started in Montreal. Eastbound around the world!
15+59 and 7548nm. Full fuel. Nice to be flying over Canada again!
