"The airline business from the time of Wilbur and Orville Wright through 1991 made zero money, net. If capitalists had been present at Kitty Hawk when the Wright brothers' plane first took off, they should have shot it down."
- Warren Buffet, March 2001
Warren Buffett knows commercial aerospace. His Berkshire Hathaway owned—until recently—large stakes in major U.S. airlines. His company also owns a large aerospace supplier: Precision Castparts. But it doesn’t look like he’s is going to add Boeingstock to his list of holdings any time soon.
Unless US starts a war and hence increases defense spending, the situation is going to be bad for BA in my view. As an AA Exec platinum and United 1K member I don't see myself flying till I see a vaccine or a cure (not reducing 15 days sickness to 11 days that remdesivir is offering). Too many immuno-compromised folks around me, from acute allergies, asthma to recovering cancer patients for me to risk their lives with my flying. If UA and AA has too many customers like me, it is a disaster for them and hence BA.
Edit 1: I do hold puts on UAL and BA
Edit 2: With due respect to Mr President, I am not sold on bleach either
Out of my BA puts (am sure now it will accelerate the decline), met my profit target. Leaving part of UAL puts for some more time.
Looks like those UAL puts got destroyed today as the stock is up 21%+ My BA calls did nicely. They're back in the green today since I bought them.
Got lucky closing all of BA puts