Buying Airlines & Buffetts Strategy
For me, I can't convince myself that demand for airline seats will be > the current supply, post covid. Moreover, I actually don't see the demand side to be problematic at all; the next 3-5 years will be a great time for air-travel. There was way too much supply in the pre covid environment, both in human airfare and freight airfare. For this conclusion, I looked at percent change in available seat miles year over year relative to percent change in passenger load factor year over year. This has actually been a big issue over the past few years, even in a pre covid environment, in conjunction with a broad increase amongst airlines of unscheduled travel miles.