FILE - A Southwest Airlines jetliner waits on a runway for departure from Denver International Airport Friday, Sept. 1, 2023, in Denver. Activist shareholder Elliott Investment Management has taken a $1.9 billion stake in Southwest Airlines. The investment firm said Monday, June 10, 2024, that Southwest failed to keep up with other airlines and suffers from outdated technology and operations. – Activist shareholder Elliott Investment Management has bought a $1.
“Poor execution and leadership’s stubborn unwillingness to evolve the Company’s strategy have led to deeply disappointing results for shareholders, employees and customers alike,” the investment firm said in the letter, dated Monday. Southwest said it was contacted by Elliott on Sunday and looks forward “to better understanding their views on our company.”