On May 20, Delta Air Lines rose 5.22% in regular trading, trading at approximately $70.92/share, with trading volume of $129 million.
The rally was driven by Berkshire Hathaway's latest 13F filing, which revealed a new position of approximately 39.8 million shares in Delta Air Lines during Q1, valued at nearly $2.65 billion. The stake instantly became Berkshire's 14th largest holding, accounting for roughly 1% of its portfolio. This marks Berkshire's return to the airline sector six years after liquidating all U.S. airline positions during the pandemic era.
Additionally, Delta CEO Ed Bastian publicly stated that the airline chose Amazon over SpaceX's Starlink for in-flight Wi-Fi, citing superior pricing and bundled streaming content services.
The broader Airlines sector rallied in tandem. Among individual stocks, United Airlines rose 5.69%, Alaska Air rose 5.01%, American Airlines rose 4.31%, Southwest Airlines rose 3.88%, and Joby Aviation rose 1.35%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)