Southwest Airlines' Leadership Under Fire as Elliott Management Takes $1.9 Billion Stake from cwf airport code Watch Video
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⏲ Duration: 0:41 👁 View: 85K times ✓ Published: 12-Jun-2024
Description: Hedge fund Elliott Management has taken a $1.9 billion stake in major airline Southwest Airlines, making it one of the company's largest shareholders. Elliott is known as an activist investor and will likely push for changes at Southwest since it sees potential for improved strategy and performance. The company, which exclusively operates Boeing 737s, has been adversely affected by delivery delays and issues, resulting in the reduction of routes to some airports. The hedge fund criticized Southwest's leadership in a letter, saying CEO Bob Jordan and executive chairman Gary Kelly have overseen poor stock and operational performance.