Skift Take

Berkshire Hathaway is a big transportation investor -- in rail. Despite the changed conditions in the airline industry since Warren Buffett invested in US Air, some of what he says still rings true: "You’ve got huge fixed costs, you’ve got strong labor unions and you’ve got commodity pricing. That is not a great recipe for success."

Noted investor Warren Buffett continues to decry airline investing even though he didn’t lose any money on his most famous airline investment, US Airways.

At the recent Berkshire Hathaway annual meeting, Buffett responded negatively when asked a question about airline investing. “Investors have poured their money into airlines and airline manufacturers for 100 years with terrible results,” Buffett said, according to TheStreet . “It’s been a death trap for investors,” he said of the airline industry, after he was asked whether airline consolidation has altered his long-standing view that investors should stay away from airlines.

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Tags: stocks, warren buffett

Photo credit: Berkshire Hathaway CEO Warren Buffett speaks during an interview with Liz Claman of the Fox Business Network, in Omaha, Neb., Monday, May 6, 2013. An astute investor, Buffett has never gotten over the jet lag he felt after investing in US Airways decades ago. Nati Harnik / Associated Press

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