What Happened?
Shares of global airline Delta Air Lines (NYSE: DAL) jumped 8.2% in the afternoon session after a regulatory filing revealed that Warren Buffett's Berkshire Hathaway built a stake worth more than $2.6 billion in the airline.
The news is significant as it marks Berkshire's return to the airline sector after famously selling all its airline holdings during the 2020 pandemic. This major investment serves as a strong vote of confidence in the carrier. The positive sentiment is also supported by Delta's recent strong performance. The airline reported record first-quarter 2026 revenue of $14.2 billion and free cash flow of $1.2 billion.
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What Is The Market Telling Us
Delta’s shares are somewhat volatile and have had 11 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 14 days ago when the stock gained 3.1% on the news that crude rude oil prices fell significantly, fueled by optimism over a potential deal to reopen the Strait of Hormuz.
Brent crude, the international oil benchmark, fell over 5% on hopes that the United States and Iran were nearing an agreement that would allow oil to flow freely from the Persian Gulf again.
A reopening could ease upward pressure on global inflation. For the travel industry, this was welcome news, as fuel is one of the largest operating expenses for airlines and cruise lines. A sustained decrease in oil prices could lead to lower costs and improved profit margins, a prospect that investors cheered. Consequently, companies with significant fuel bills saw a lift, including major players like United Airlines, Carnival, and Royal Caribbean.
Delta is up 7.2% since the beginning of the year, and at $74.05 per share, it is trading close to its 52-week high of $75.35 from February 2026. Investors who bought $1,000 worth of Delta’s shares 5 years ago would now be looking at an investment worth $1,631.
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