Elliott Invests $1.9 Billion in Southwest Airlines, Aims to Remove CEO and Chair

Elliott Management has invested $1.9 billion in Southwest Airlines.

They aim to replace Southwest's CEO and Chairman, citing the airline's lagging performance.

Elliott views Southwest's decline as a departure from its former status as a top-tier airline.

The size of Elliott's stake in Southwest makes it one of the airline's largest shareholders.

Elliott intends to use all available means to enact leadership changes at Southwest.

They advocate for an immediate transition of CEO and chair roles at Southwest.

Southwest defends its current leadership, expressing confidence in their ability to execute the company's strategy.

Southwest's stock has declined significantly compared to its rivals over the past three years.

Despite recent challenges, Southwest remains a major domestic airline with a market capitalization of $16.6 billion.

Elliott's strategy involves extensive research, including interviews with former employees and surveys of flyers, to support its campaign for leadership change.