What happened
Berkshire Hathaway, led by Warren Buffett, has returned to airline investing by buying a stake in Delta Air Lines. This move comes after the conglomerate sold its major airline stakes at the start of the pandemic when prices were at their lows. The article notes that while airlines are challenging businesses with high fixed costs and unionized workforces, they have improved sustainability and monetization. Berkshire's previous stakes were in US carriers, and this new investment in Delta suggests renewed confidence in the airline's financial position. The piece also briefly discusses other airline investment scenarios, such as consolidation targets like Hawaiian Airlines (acquired by Alaska) and Sun Country (acquired by Allegiant), and the performance of United and Delta stocks