Shares of Delta Air Lines rose 3.2% to $72.45 in after-hours trading after Berkshire Hathaway disclosed a new position in the airline valued at approximately $2.6 billion at the end of the first quarter.

The investment was revealed through Berkshire’s latest 13-F filing, which showed the conglomerate accumulated nearly 40 million Delta shares during the quarter. The move marked one of Berkshire’s largest new equity purchases during the period and signaled renewed confidence in the airline sector.

Before the after-hours rally, Delta shares had already gained roughly 1% year-to-date.

Hedge Funds Take Different Approaches to Airline Stocks

While Berkshire aggressively entered Delta, several prominent investment firms moved in the opposite direction by reducing or exiting airline exposure during the first quarter.

Appaloosa Management completely exited its holdings in:

• Delta Air Lines
• United Airlines
• American Airlines

Meanwhile, Duquesne Family Office also eliminated its positions in Delta and American Airlines.

The firm additionally reduced its stake in United Airlines by 85,905 shares, leaving it with 262,495 shares remaining.

Berkshire’s Airline Bet Draws Attention

Berkshire’s sizable Delta investment stands out because the company previously exited major airline holdings during the pandemic amid uncertainty surrounding global travel demand.

The new position suggests Berkshire may now view the airline industry more favorably as travel demand, corporate bookings, and international routes continue recovering. Investors also appear encouraged by Delta’s strong pricing power, premium travel demand, and improving profitability outlook.

The disclosure quickly boosted sentiment across airline stocks in after-hours trading as markets reacted to Berkshire’s endorsement of the sector.

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