Subject: Re: Grantham: In which stage are we?
Why did he sell the Airlines?

There are presumably plenty of insightful ways to consider that question.
The simplest view is that they were all clearly about to be bankrupt without a huge and prompt bailout.

But as a side note, has anyone looked at how they have performed in the last 7 quarters?
They have really tanked. Not much above the price at which Berkshire sold.
For example, Southwest has gone from $64 to $35.

I don't miss 'em.

Jim