US: Buffett's Berkshire boosts American, Southwest airline bets; sheds Fox

Warren Buffett's Berkshire Hathaway Monday said it added to its sizable investments in American Airlines Group and Southwest, and shed its stake in Twenty-First Century Fox. In a regulatory filing, Berkshire said that in Q1 its American stake grew 8% to 49.3m shares worth $2.08b, while its Southwest stake grew 10% to 47.7m shares worth $2.57b. Berkshire also shed 8% of its holdings in Delta, ending March with 55m shares worth $2.53b. Buffett became one of the largest investors in American, Delta, Southwest and United Continental Holdings last year, reversing his disdain for an industry he once called a "death trap" for investors. He told shareholders at Berkshire's annual meeting on May 6 that airlines' business model had improved, with fewer unsold seats and an ability to charge for checked bags, seat choices and other amenities that were once free.<br/>