Airline Stocks Skyrocket Thanks To Warren Buffett

As of Tuesday’s close, Buffet is sitting in first class — registering a paper profit of roughly $290 million, or about 22 percent on the $1.2 billion investment he made some time in the third quarter.

Buffett, 86, disclosed his new stakes in the carriers in third-quarter regulatory filings. 

The airline purchases are an unusual move for Buffett, who has usually been sour on the industry, calling it a “death trap” in his 2013 Berkshire investor letter.

Airline stocks have risen steadily over the last few months, and news of Buffett’s purchases further buttressed shares on Tuesday. American Airlines jumped 3.1 percent, closing at $44.76, United rallied 5 percent, to $66.06, and Delta was roughly flat, closing at $47.65.

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