The airline sector and related exchange traded fund are enjoying record profitability and additional tailwinds, with even investment guru Warren Buffett taking a second look at the industry.

On the upcoming webcast, Why Buffett Changed His Mind About Airlines, Frank Holmes, CEO and Chief Investment Officer of U.S. Global Investors, will take a bird’s-eye view of the airline industry and look at the emerging new business environment after years of consolidation.

“Airline stocks recently made a 52-week high and are still the least expensive industry within the S&P industrial sector,” Holmes told ETF Trends in a call.

The U.S. Global Jets ETF (NYSEArca: JETS), the lone dedicated airline ETF, surged 23.5% over the past three months and was up 13.4% year-to-date. Nevertheless, JETS is “still inexpensive,” Holmes said.

JETS currently trades at a 9.64 price-to-earnings and a 2.09 price-to-book. In contrast, the Industrials Select Sector SPDR (NYSEArca: XLI), which tries to reflect the performance of the S&P Industrial Sector Index, has a 19.32 P/E and a 3.78 P/B and the broader S&P 500 Index is trading at a 19.37 P/E and a 2.71 P/B.