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In Warren Buffett's 1996 letter to shareholders of Berkshire Hathaway Inc. (BRK.B) he quipped that "Richard Branson was once asked how to become a millionaire, he had a quick answer: 'There's really nothing to it. Start as a billionaire and then buy an airline". Despite Buffett's witticism, he recently purchased USD $45M shares of Delta Air Lines Inc. (DAL) on a COVID-19 driven selloff.
Investment Thesis
A few short months ago, Air Canada (ACDVF) was a stock market darling. In 2019, it was the best performing airline stock