Yahoo Finance’s Alexis Christoforous, Brian Sozzi and Adam Shapiro discuss how the airlines are faring amid the coronavirus outbreak.

Video Transcript

BRIAN SOZZI: I want to get right to our very own Adam Shapiro, who closely follows the airline sector for us. Adam, so many airlines continue to cut capacity. Not only are they doing it worldwide, they're really cutting capacity to New York City.

ADAM SHAPIRO: Yeah, New York City took a big hit. You know, you go back two weeks and you saw that JetBlue was cutting flights originally just its central flights. And then they went from in their base, from 200 daily flights, just 40 last week. That was followed by United Airlines, which cut its flights. I'm going to give you the numbers. From Newark, their hub, 139 flights a day down to just 15.

Laguardia, they have 18. That's now down to two. They said too, when they announced this, quote, "our service also enables the shipment of much needed medical supplies, and will allow us to continue to bring health care professionals from around the country to the front lines of New York and New Jersey." Followed by that, American overnight, has cut their flights. 170 flights from Laguardia now down to just eight. JFK, 80 flights down to three. And in Newark, they still have just two flights a day. Spirit Airlines, by the way, cut all of their service. They're suspending operations at LaGuardia and Newark and Hartford.

And one other thing to share with you. Warren Buffett, who what, about four weeks ago, told our Andy Serwer he would not sell his airline stocks. He said, quote, "I won't be selling airline stocks. It's going to be terrible. I've always felt a pandemic would happen at some time, but it won't stop the progress of the country or the world." Well, Berkshire Hathaway has sold 13 million shares of Delta. That's about $314 million, and roughly 2.3 million shares of Southwest. That's roughly $74 million.

To wrap this up, to leave you with a feel good kind of experience, United Airlines. Remember the horror story about the two cruise ships that docked in Florida. That was Holland America's the Zaadam, and then the Rotterdam, with people who were ill with coronavirus. 219 Australian citizens who were screened medically and allowed to fly home, United Airlines, I think we have some photos of this actually. United Airlines flight 2483, there was a charter flight, took off from San Francisco last night with those 219 Aussies onboard. They are in route right now to Melbourne. They are going home. And they are at this point, healthy. Brian.