In all seriousness I think his thesis was that with consolidation, the airlines would have pricing power and the ability to cut capacity.
For each transaction you need a buyer and a seller. After the transaction is closed, the market goes up or down. So for each transaction you could ask for , or the buyer, or the seller: Why TF did you do this? Because for one of them the market went the wrong way. Buffett bought for billions of dollars stocks and made a fortune. You could ask the same question (Who TF would do this? ) to all the sellers of these stocks that made Buffett very rich. If they would have kept the stocks instead of selling them they would have been much richer, or less poor. Did you beat Buffett, or did he beat you? Nobody is perfect, everybody makes mistakes. But the probability that you will do something stupid is much higher as Buffett made billions and you not. In hindsight it is always clear what should have been done.
imo airline is got to take awhile to rebound.. I feel maybe Warren sell it to reinvest in something that is more practical instead of airlines that will take a long time to recover in the current marketing judging by the situation.