Shares of Indian airliners tanked in Monday’s trade after the legendary investor Warren Buffett said he has dumped his entire stake in US airline companies, sending shockwaves to the industry across the world.
Shares of Interglobe Aviation slumped 6.19 per cent to Rs 933 while its rival SpiceJetNSE -3.05 % tanked 4.91 per cent to Rs 42.65. The defunct Jet Airways fell 4.84 per cent to Rs 18.50.
Buffett, during his annual address to shareholders, said thanks to the pandemic the “world has changed” for the aviation industry without any fault of theirs. He added that he has been advised not to fly.
