Southwest
Investing.com — Activist investor Elliott Investment Management has formally requested a special shareholder meeting at Southwest Airlines (NYSE:) Co., marking the firm’s first US proxy battle since 2017, Bloomberg News reported Monday. Elliot has put forward a slate of eight board nominees, aiming to replace the same number of existing…
Whatever you thought you knew about Southwest Airlines is about to change.The airline on Thursday revealed a dramatic turnaround plan, scrapping its unique playbook of more than 50 years in favor of an airline that largely resembles most of its peers.In a 112-slide presentation for investors, executives laid out plans…
By Rajesh Kumar Singh CHICAGO (Reuters) – Southwest Airlines (NYSE:) will lay out a strategy on Thursday to turn around its business and restore profit margins to pre-pandemic levels as the U.S. carrier faces pressure from an activist investor to shake up its management. The pioneering low-cost airline once boasted…
The budget airline plans to cut some 340 pilots and flight attendants from its busy Atlanta base, CNBC first reported Wednesday. A company spokesperson confirmed the news, citing lower bookings that have forced it to reduce service. Changes won’t take effect for six months. The spokesperson also noted a delay…
By Rajesh Kumar Singh CHICAGO (Reuters) – Southwest Airlines (NYSE:), the pioneering low-cost carrier, is facing a campaign by an activist investor to overhaul a business model it says is outdated, putting pressure on CEO Robert Jordan and leaving the airline scrambling to modernize, analysts say. This comes ahead of…
By Rajesh Kumar Singh (Reuters) -Activist investor Elliott Investment Management on Tuesday escalated its boardroom battle with Southwest Airlines (NYSE:), saying it plans to request a special shareholder meeting as soon as next week to overhaul the airline’s leadership. The U.S. carrier, however, once again ruled out any leadership change,…
By Svea Herbst-Bayliss NEW YORK (Reuters) – Elliott Investment Management now holds 10% of Southwest Airlines (NYSE:)’ common stock, crossing the threshold that allows the hedge fund to call a special meeting at the carrier, according to a person familiar with the matter. The news comes days before the two…
By Svea Herbst-Bayliss NEW YORK (Reuters) – Elliott Investment Management is telling Southwest Airlines (NYSE:) investors the company needs new outside leadership and that it wants to engage to shape a “better future” but is also ready to press ahead with a planned proxy fight. In a letter to shareholders,…
By Rajesh Kumar Singh and Allison Lampert CHICAGO (Reuters) – Southwest Airlines (NYSE:) is girding itself for a fight with Elliott Investment Management, rallying support from investors and employees to face down an activist investor looking for wholesale changes to company leadership. In recent weeks, CEO Bob Jordan has been…
All of America’s major low-cost airlines have reported their second-quarter 2024 earnings, and the numbers don’t look good.The budget carriers, like Spirit and Southwest Airlines, have struggled to generate profits despite strong demand for summer air travel.”Summer demand remains robust and load factors have been strong; however, significant industry capacity…
