BECKY: Okay. In terms of other things that came up this weekend— Andrew touched before on the question that Bill Miller asked— of Legg Mason. His question was again related to the airlines. He’s been on Squawk and talked about his investment thesis. He has bought into a lot of these airlines. And he points […]
Tag: airline industry
On Airline Industry
Question: What do you think of the airline industry? Buffett: “The big problem is not aggregate costs, but costs versus competitors.” Buffett recalled US Air’s difficulties competing against Southwest and concluded, “If your costs are out of line, you’re going to get killed eventually.” [Munger: “Airline pilot unions are really tough. It’s interesting to see people paid […]