US EditionElliott Takes Big Stake in Southwest Airlines
- Elliott Management, an activist hedge fund, has acquired a $1.9 billion stake in Southwest Airlines and intends to advocate for leadership changes due to the airline's decline compared to competitors.
- Southwest has transitioned from a top-tier airline to one of the worst performers, prompting Elliott's call for CEO and chair replacements with external candidates.
- The activist expressed dissatisfaction with Southwest's strategies and leadership, resulting in substantial shareholder losses, decreased stock value, and calls for leadership alterations.
55 Articles
55 Articles
Investment firm’s new $1.9 billion stake in Southwest could spell doom for CEO
Elliott Investment Management acquired a $1.9 billion stake in Southwest Airlines and is pushing to replace the company’s CEO as the airline battles operational and financial challenges. Southwest has been struggling with lower earnings and profits compared to its rivals due to increased expenses from recent labor agreements. Additionally, delays in receiving new planes from Boeing and their certifications following the Alaska Airlines flight a…
An activist investor with a new $1.9 billion stake in Southwest is calling for big changes at the airline
Southwest's stock price has struggled since the pandemic started. Elliott Investment Management says its proposed changes could push shares 77% higher. Scott Olson/Getty ImagesElliott Management has called for changes at Southwest to fix what it says is poor performance.Southwest's share price has plummeted over 50% in three years, to below March 2020 levels.The hedge fund's "Stronger Southwest" plan suggests new leadership and a review of the…
An investment firm has taken a $1.9 billion stake in Southwest Airlines and wants to oust the CEO
Activist shareholder Elliott Investment Management has taken a $1.9 billion stake in Southwest Airlines and wants to get rid of the CEO. The investment firm alleged that Southwest failed to keep up with other airlines and suffers from outdated technology…
Southwest shares jump after activist Elliott buys $2B stake
Southwest Airlines shares jumped on Monday after activist investor Elliott Investment Management took a $2 billion stake in the carrier.Elliott, in a letter sent to Southwest's board on Monday, called on the airline to make leadership changes and take other actions, arguing the carrier needed to improve its financial performance.CLICK HERE TO READ MORE ON FOX BUSINESSIn the letter, Elliott executives said Southwest should remake its board with "…
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