DALLAS, Sept. 24, 2024 /PRNewswire/ -- – Southwest Airlines Co. (NYSE: LUV) (the "Company") today issued a response to Elliott Investment Management L.P.'s ("Elliott") recent Shareholder letter and provided an update on its engagement with Elliott ahead of the Company's long-planned Investor Day set for Thursday, September 26:Elliott Engagement UpdateSouthwest has made every effort to reach a constructive resolution with Elliott, including over a dozen phone calls with Elliott representatives, several in-pe ...

Elliott Management said Tuesday it will call a special meeting at Southwest Airlines "as soon as next week," shortly after the company put forward a sweeping board shakeup that it hoped might stave off a proxy fight.The push comes days before the airline's investor meeting, where it is expected to unveil improvements and operating changes. Elliott is seeking to oust CEO Bob Jordan and executive chairman Gary Kelly, the latter of whom has already committed to stepping down in 2025. The activist has put forwa ...

Elliott Sends Second Open Letter to Its Fellow ShareholdersDeclares Intent to Call a Special Meeting in Coming Weeks, Given Urgent Need for Leadership ChangeSouthwest's Use of "False Record Dates" Requires Shareholders Take Action Now to Protect Their InvestmentWEST PALM BEACH, Fla., Sept. 24, 2024 /PRNewswire/ -- Elliott Investment Management L.P. ("Elliott"), which manages funds that together have an investment representing an approximately 11% economic interest in Southwest Airlines Co. (NYSE: LUV) (the ...

Southwest Airlines has warned employees that it will have to make "difficult decisions" ahead to boost profits as the carrier faces pressure from activist Elliott Investment Management, which has sought leadership changes at the company.Southwest over the summer announced a host of major changes to its more than 50-year-old business model to drum up revenue. It plans to ditch open seating for assigned seats, offer seats with more legroom that fetch a higher fare and start red-eye flights. It has also starte ...

LOS ANGELES, CALIFORNIA - SEPTEMBER 1: A Southwest Airlines Boeing 737 taxis at Los Angeles ... [+] International Airport after arriving from Phoenix on September 1, 2024 in Los Angeles, California. (Photo by Kevin Carter/Getty Images)Getty ImagesSouthwest Airlines (NYSE: LUV) has lost 10% in value since early January 2023 - falling from levels of around $32 then to under $29 now - underperforming the S&P 500 by more than 50% over this period. This can primarily be attributed to a 21% decline in the stock’s ...

DALLAS, Sept. 19, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) invites you to listen to a live webcast of its 2024 Investor Day. Southwest will be webcasting the presentation live, and a link to the webcast will be made available via the Investor Relations homepage on the Southwest Airlines website. Details of the webcast are as follows:Date: Thursday, September 26, 2024 Time: 10:30 a.m. ET Speakers: Bob Jordan, President, Chief Executive Officer, and Vice Chairman of the Board of Directors Andre ...

The airline is keeping its CEO, but losing a large chunk of its board. In the fight with Elliott Management, who's winning?In this podcast, Motley Fool analyst Bill Mann and host Mary Long discuss:Proposals for the U.S. to develop a sovereign wealth fund.The activist battle at Southwest Airlines.Why Campbell dropped the "soup."Then, Motley Fool personal finance expert Robert Brokamp continues a two-part interview with Dave Hatter, a cybersecurity consultant at Intrust IT, about how to protect your personal ...

Flight Simulator Technicians Approve New Contract;All Labor Contracts Now Successfully RatifiedDALLAS, Sept. 16, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) and the International Brotherhood of Teamsters (IBT) Local 19 today announced the airline's Flight Simulator Technicians have voted in favor of their new contract.Southwest Airlines® has more than 50 Flight Simulator Technicians who provide maintenance and engineering support for the Company's flight training equipment. The new contract incl ...

Giving in to continuous calls for a strategic overhaul from activist investor Elliott Investment Management,Southwest Airlines (LUV) overhauled its board. Under the plethora of changes, the Dallas-based low-cost carrier’s former CEO and current executive chair Gary Kelly and several board members announced their decision to step down. The board revamp resulted in LUV stock declining 1.6% to close the trading session on Sept. 10 at $29.25 per share.Per a regulatory filing, LUV announced that six of its board ...

Southwest Airlines will revamp its board and the chairman will retire next year, but it intends to keep CEO Robert Jordan in a partial concession to hedge fund Elliott Investment Management, which has been pushing for changes at the airline including Jordan’s ouster.Southwest said Tuesday that six directors will leave the board in November and it plans to appoint four new, independent directors, potentially including candidates put forward by Elliott.Shares of Southwest Airlines fell 4% Tuesday. 4 Activis ...