Berkshire Hathaway Takes $5.4 Billion Stake in Delta Air Lines

Key Facts

1Berkshire Hathaway has taken a $5.4 billion stake in Delta Air Lines.

2Delta maintains a $0.40 per gallon fuel cost advantage due to owning its own refinery.

Berkshire Hathaway has taken a $5.4 billion stake in Delta Air Lines (DAL). Seeking Alpha reported that the investment highlights Delta's structural fuel cost advantage of $0.40 per gallon, which is maintained through the company's ownership of its own refinery, providing a significant edge during periods of energy price volatility.

DAL closed at $84.03 on September 28, 2026, while Berkshire Hathaway (BRK-B) closed at $503.09 on the same date. The multi-billion dollar position underscores institutional confidence in Delta's financial resilience and superior interest coverage compared to industry peers, despite broader headwinds facing the global airline sector.