Warren Buffett has made other bets on the long-term trend of more air travel. While the move surprised observers who were accustomed to the billionaire’s skepticism about the business, Berkshire vice-chairman Charles Munger has likened his company’s new stance to its shift on railroads a decade ago. ‘Certain romance’While survivors in the rail and airline industries both benefited from consolidation, Buffett has pointed to differences. “There’s a certain romance to it,” Buffett told Rose, likening the business to Hollywood. “This year, we believe a surprise may be that a major airline gets acquired, potentially by Berkshire, or goes private on its own.

Source: Mint February 22, 2017 17:37 UTC