Reported about 1 year ago
Elliott Investment Management, an activist investor, is calling for the ouster of Southwest Airlines Co.'s leadership as it reveals a $1.9 billion stake, sparking a fight at one of the world's largest carriers. This move comes amidst a trend of activist plays in the challenging air travel market, with demands for cost-cutting, improved customer choice, and upgraded technology to boost stock performance. The industry has faced challenges such as plummeting profits and stock prices due to factors like volatile jet fuel prices and strategic missteps, prompting activists to target airlines for potential restructuring.
Source: YAHOO