Elliott takes $1.9 billion stake in Southwest Airlines, seeks to oust CEO and chair

Activist Elliott Management has a $1.9 billion stake in Southwest Airlines and plans to push for leadership changes at the struggling company.A Southwest Airlines jet comes in for a landing at Laguardia Airport in New York City, New York, U.S., January 11, 2023.The stake makes Elliott one of Southwest’s largest shareholders, according to FactSet. Shares of Southwest were up 7% in premarket trading Monday.

The airline's leaders are now looking for new ways to drum up revenue to better compete with rivals that offer travelers more perks and products.

Southwest shares are down by more than 50% from three years ago when travel demand, led by domestic trips, was starting to come back. In contrast,

Source: Digital Coin News (digitalcoinnews.net)

Boeing Co Texas Instruments Inc Anglo American PLC Softbank Group Corp Crown Castle Inc Sensata Technologies Holding PLC Delta Air Lines Inc United Airlines Holdings Inc Breaking News: Technology Technology Breaking News Southwest Airlines Co Airlines Business Transportation Business News

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Activist investor Elliott takes nearly $2 bln stake in Southwest Airlines- WSJActivist investor Elliott takes nearly $2 bln stake in Southwest Airlines- WSJ
Source: Investingcom - 🏆 450. / 53 Read more »

Elliott takes nearly $2 billion stake in Southwest Airlines, WSJ reportsElliott takes nearly $2 billion stake in Southwest Airlines, WSJ reports
Source: Investingcom - 🏆 450. / 53 Read more »

Stocks making the biggest moves premarket: DraftKings, Carvana, Southwest Airlines, Planet Fitness and moreThese are the stocks posting the largest moves in premarket trading.
Source: CNBC - 🏆 12. / 72 Read more »

Apple, Moderna, Southwest Airlines rise premarket; Tesla fallsApple, Moderna, Southwest Airlines rise premarket; Tesla falls
Source: Investingcom - 🏆 450. / 53 Read more »

Southwest Airlines raises price of early check-ins, upgraded boardingSouthwest Airlines has increased the price of early check-ins and upgraded boarding for passengers, popular perks that help customers attain better seats on their respective flights.
Source: FoxBusiness - 🏆 458. / 53 Read more »

Are airlines like Southwest, American ready for summer travel?Airlines, like Southwest and American are preparing for a busy summer.
Source: dallasnews - 🏆 18. / 71 Read more »