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"If you think about airlines, there’s a lot of barriers to entry and there are capital intensive barriers, but ultimately airlines are not massively profitable,” the investor said." reuters.com/article/us-ube… Perhaps in some alternative universe airlines have a lot of barriers.
"The airline industry has very, very, very low incremental cost per seat with enormous fixed costs. The temptation to sell that last seat at a very low price is very high and sometimes it’s very hard to distinguish between that seat and the last seat" CM google.com/amp/s/25iq.com…
He bought anyway: "I now have an 800 number I call every time I think about buying a stock in an airline. I say, 'I am Warren Buffett and I am an air-aholic.' They try to talk me down, 'Keep talking don’t do anything rash.'"
