"Sexy" airline industry attracts capital

9:00 AM ET Sat, 4 May 2013

Fifteen years after his initial investment in USAir, following two bankruptcies and a reverse merger with America West, US Airways was preparing to combine with American Airlines, one of a series of mergers that sharply reduced the number of competing carriers. At the 2013 shareholders meeting, Buffett was skeptical when asked about the industry's improved profitability.