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Why Airline Shares Are Falling Today

TheMotleyFool

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Airline shares are under pressure again on Monday after Warren Buffett over the weekend announced that Berkshire Hathaway has dumped its sizable positions in Delta Air Lines (NYSE: DAL), Southwest Airlines (NYSE: LUV), American Airlines Group (NASDAQ: AAL), and United Airlines Holdings (NASDAQ: UAL), walking away from the industry completely.

Shares of Delta, American, and United all opened down more than 14%, while Southwest was off 9.3%. Other airlines also got caught up in the sell-off, with Alaska Air Group (NYSE: ALK), JetBlue Airways (NASDAQ: JBLU), Hawaiian Holdings (NASDAQ: HA), and Spirit Airlines (NYSE: SAVE) all opening down by double digits.

Image source: Getty Images.

Source Fool.com

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