> Warren Buffett Blog: Quote on difficulties making profit in Airline industry

Monday, June 22, 2015

Quote on difficulties making profit in Airline industry

In 60 years the world-wide airline industry had profit margins of less than 1 percent on average.

"A durable competitive advantage has proven elusive ever since the days of the Wright brothers. Indeed, if a far-sighted capitalist had been present at Kitty Hawk he would have done his successors a favor by shooting Orville down." 
    - Warren Buffett