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The shares of American Airlines and United Airlines fell more than 10%, while the shares of Latam Airlines lost 10.74%.
Things are getting more complicated for the airline sector in the stock market. And it is that an illustrious and influential voice shook the sector again, causing aggressive falls in the roles of the largest airlines in the United States.
Is about Warren buffett, the legendary founding investor of Berkshire Hathaway, who decided to ditch his airline papers during April and called the purchase of Delta shares in February a mistake.
“I don’t know if in three or four years more people will fly as many passenger miles as last year,” the investor told Berkshire Hathaway shareholders in a video conference.
And the market response was immediate. Just minutes from the opening of the US stock market, the country’s largest airlines suffer aggressive falls.
At this time, American Airlines loses 11.41% of its value, falling to US $ 10.64 per paper, while United Airlines titles contract at US $ 26.62, 10.01% below its closing Friday. Delta also has a bad morning, with a drop of 6.91% that has its shares at US $ 24.12.
But it is not only North American airlines that lose ground. In Europe, IAG shares fell 5.53%, while AirFrance fell 7.51% in Paris, Lufthansa lost 4.65% in Frankfurt and Ryanair lost 13.48% in Dublin.
In Chile, Latam Airlines take the hit and open the day losing more than 10%.
Buffett’s comments come after an extended period of weakness for the sector, which despite seeing some recovery in its share price in the stock rally that took place in April, are still under pressure due to the transport restrictions imposed by the authorities throughout the world amid the coronavirus pandemic.
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