What Does Buffett Know About Airlines?

Setting valuations aside, the true test of long term profitability is whether operators have made a permanent transition from price-taker to price-maker . The “airlines had a bad century” argument assumes that pricing power improves at a faster rate than a consumer’s ability to identify and exploit systemic weaknesses.

The Latest: Manager: Musician meant no harm by gun on plane

In this Feb. 18, 2006 file photo, Rick Derringer performs during a campaign rally kicking off George Wallace Jr’s bid for the office of lieutenant governor in Montgomery, Ala. Prosecutors say Derringer carried a loaded gun in his carry-on bag on a Delta Air Lines flight from Cancun, Mexico, but was stopped after landing in Atlanta.