I had some airline stock, but the airlines tanked. I didn't have a lot of money in them, though.
Sentiment: NEGATIVE
I've long loved emerging markets airlines because they usually sell at bargain prices. The troubled history of developed market airlines unfairly taints these stocks. In the emerging world, they're growth stocks.
A lot of airlines have come and gone.
There is something about the airline industry that really grabbed me.
When I started working on Southwest Airlines, I kid you not, only people flying on business and very wealthy people ever flew.
Unfortunately, I've got airplanes that I can't even afford to use today that are sitting there. I'm still paying insurance on them; I'm still paying payments.
Carl Icahn told me to stay away from airlines. In good times, the unions take away the profits, and in bad times, the cost of oil kills you.
If anyone wonders why the airlines are not doing well it is because flying has been made such an unpleasant and degrading experience.
The airline business is the biggest team sport in the world. When you're all consumed with fighting among yourselves, your opponents can run over you every day.
Global capital markets pose the same kinds of problems that jet planes do. They are faster, more comfortable, and they get you where you are going better. But the crashes are much more spectacular.
We've got fuel prices coming down and good travel numbers coming out, so it's not surprising airline stocks are going up.