Southwest raises revenue forecast under pressure from activist Elliott
Southwest Airlines raised its third-quarter revenue forecast, approved $2.5 billion in share buybacks and announced plans to buy back a large number of its businesses as it continues to face pressure from activist hedge fund Elliott Investment Management. announced changes. The company says its business plan will generate an additional $4 billion in pre-interest and […]
Activist Elliott slams Southwest CEO Bob Jordan as shares soar 7%
Activist hedge fund Elliott Investment Management said Thursday that Southwest Airlines' Bob Jordan is to blame for Southwest Airlines' financial woes, hours after the struggling airline raised its profit and revenue outlook. He accused him of being the CEO. Elliott, led by billionaire Paul Singer, reaffirmed its intention to call a special meeting to remove […]
Southwest to end open seating for 2026 flights in business model shakeup
Frank Lorenzo, author of “Flying for Peanuts,” shares what he's learned in the industry on “The Claman Countdown.” Southwest Airlines on Thursday announced changes to its long-standing business model in hopes of reversing turmoil caused by declining profits and a sagging stock price. The Dallas-based airline said in a press release that it is pivoting […]
Southwest cuts service to and from Atlanta amid cost-cutting demands
Southwest Airlines is cutting flights to and from the world's busiest airport, another sign that the largest U.S. airline is making deep cost-cutting moves in the face of pressure from activist investors. The Dallas-based airline is reportedly drastically cutting flights to and from Atlanta's Hartsfield-Jackson International Airport and cutting 300 pilots and flight attendants serving […]
Southwest warns employees of ‘difficult decisions’ ahead: report
Jack Otter and panelists join “Barron's Roundtable” to discuss Southwest Airlines' decline in popularity and how to turn it around. Southwest Airlines has warned employees that “difficult decisions” are looming amid pressure from activist investor Elliott Investment Management to boost profits. The Dallas-based airline's chief operating officer, Andrew Watterson, said in a video to employees […]
Alaska Airlines flight blows out tires while aborting takeoff to avoid tarmac collision with Southwest plane
Two planes narrowly avoided disaster on the runway at Nashville International Airport Thursday morning, authorities said. According to the Federal Aviation Administration, Alaska Airlines Flight 369 suffered a tire blowout while attempting to avoid a collision with Southwest Airlines Flight 2029 on the runway around 9:15 a.m. According to Flightradar24, the Alaska Airlines plane It […]
Southwest shares tumble after airline overhauls board but keeps CEO
Southwest is replacing its board of directors and its chairman is due to step down next year, but it plans to keep Chief Executive Robert Jordan in his position in some concessions to hedge fund Elliott Investment Management, which had called on the airline to make reforms, including firing Jordan. Southwest Airlines said Tuesday that […]
Activist investor Elliott doubles down on Southwest proxy fight
Activist hedge fund Elliott Investment Management has stepped up its calls for management changes at Southwest Airlines in a letter to shareholders. Elliott, led by billionaire investor Paul Singer, has earned a reputation for its sometimes aggressive approach to turning around struggling companies. The company recently played a key role in the ousting of Starbucks […]
Gunmen kill 23 passengers taken from vehicles in an attack in southwest Pakistan
Gunmen identified and took 23 passengers from buses, vehicles and trucks and shot them dead in one of the deadliest attacks in Pakistan’s restive southwest, police and authorities said Monday. Senior police official Ayub Achakzai said the murder took place at night in Balochistan’s Musakhair district, and that the assailants set at least 10 vehicles […]
Activist investor Elliott pushes to grab control of Southwest Airlines board
Activist hedge fund Elliott Investment Management has launched a fight to take control of Southwest Airlines’ board of directors in an effort to oust the airline’s CEO and turn around the airline’s performance, the company said. Elliott is seeking to replace 10 of the 15 directors, intensifying a proxy fight over who should lead the […]