Buffett says issues with Boeing jet won't hold back aviation

Published: Mar. 29, 2019 at 7:15 AM CDT
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Investor Warren Buffett, who has major stakes in three airlines that operate the Boeing 737 Max, said safety issues with the jet won't have a long-term effect on the aviation industry.

The plane is grounded after two deadly crashes within five months. Boeing is upgrading flight-control software.

"Obviously there's a problem with this 737 Max, but Boeing, you can bet they're staying up 24 hours a day to get it worked out," Buffett said Thursday.

The 88-year-old chairman and CEO of Berkshire Hathaway praises the safety of flying, saying it's almost impossible to believe how much it has improved during his lifetime.

Berkshire Hathaway holds stakes in Delta, Southwest, United and American. All but Delta have Max jets. The firm had no Boeing shares as of Dec. 31.