Berkshire Hathaway Cuts Delta, Southwest Stakes

(Bloomberg) -- Warren Buffett’s Berkshire Hathaway Inc. spent this week selling shares of Delta Air Lines Inc. and Southwest Airlines Co.

Berkshire sold nearly 13 million shares in Delta and roughly 2.3 million shares of Southwest, according to regulatory filings Friday. That left Buffett’s company with a $1.32 billion stake in Delta and a $1.57 billion holding of Southwest stock.

Airlines across the U.S. have been pummeled by a steep drop-off in travel as the coronavirus spreads throughout the country. Delta Chief Executive Officer Ed Bastian said Friday in a memo that it expects second-quarter revenue to fall 90%.

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