Particle.news

Download on the App Store

Elliott Investment Management Pressures Southwest Airlines for Leadership Change

Activist investor acquires $1.9 billion stake, criticizes outdated technology and operations.

Image
Image
Southwest Airlines Boeing 737 jetliners at gates at Harry Reid International Airport in Las Vegas, Nv., on March 1, 2024.

Overview

  • Southwest Airlines responds to Elliott's call for CEO removal, emphasizing current strategy.
  • Elliott Investment Management cites poor financial performance and outdated operations.
  • Southwest highlights recent technology upgrades and operational improvements.
  • The airline plans to discuss its strategy further at Investor Day in September.
  • Southwest's board supports current leadership, confident in long-term value creation.