Elliott Investment Management is preparing to launch a fight for control for control of Southwest Airlines' (LUV) board.
Elliott is preparing to launch a proxy fight at Southwest Airlines and will nominate as many as 10 directors to the company's 15-person board. Elliott has an 11% stake in the airline through stock and derivatives.
Elliott Investment Management is expected to launch a board room challenge at Southwest Airlines , nominating as many as 10 director candidates as the hedge fund wants the company to oust its chief executive officer and improve performance, sources said on Tuesday.
Elliott Investment Management is preparing to launch a proxy fight at Southwest Airlines LUV 0.16%increase; green up pointing triangle, according to people familiar with the matter, as the activist turns the heat up a notch in its battle with the Dallas-based carrier.
Elliott Investment Management on Monday said in a regulatory filing that it has a 7% beneficial ownership in Southwest Airlines , giving a breakdown of what it owns as it tries to overhaul management and improve financial performance.
Southwest Airlines' plan to eliminate open seating is one way for the company to raise much-needed revenue, but it comes with the risk of alienating loyal customers.
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The friction between Elliott Investment Management and the leadership of Southwest Airlines (LUV) intensified after the private equity firm blasted the airline's management for acting too late to initiate financial reforms.
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Every airline has its devoted customers, and then there's Southwest.
The veteran carrier published its second-quarter results before the market open. Its revenue rose, and its adjusted net income fell during the period.
Southwest Airlines (LUV) second-quarter 2024 earnings decline year over year while revenues improve.