Last Friday, Warren Buffett served a new blow to an already troubled industry, shaking it to the core: The celebrity investor announced that Berkshire Hathaway had sold all its holdings in airlines. The move sent ripples through the oil industry, as well. The coronavirus pandemic had changed the world, Buffett said. It has also changed the air transport industry–and the changes may be lasting. As one of the most significant sources of oil demand, air transport is intimately linked to the oil industry. This means any lasting changes to one would inevitably lead to lasting changes in the other. “I don’t know whether two or three years from now that as many people will fly as many passenger miles as they did last year,” Buffett said during a virtual shareholders’ meeting. “They may and they may not, but the future is much less clear to me about how the […]