An investment firm has taken a $1.9 billion stake in Southwest Airlines and wants to oust the CEO

  • 📰 wfaa
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 51%

Россия Новости Новости

Россия Последние новости,Россия Последние новости

They will be charging more for checked baggage and early check-ins.

The investment firm said Monday that Southwest failed to keep up with other airlines and suffers from outdated technology and operations.DALLAS — Activist shareholder Elliott Investment Management has bought a $1.9 billion stake in Southwest Airlines and is seeking to force out the CEO of the airline, which has struggled with operational and financial problems.

The firm said Southwest failed to evolve, hurting its ability to compete with other carriers. It said the Dallas-based carrier has outdated software and operational processes, which were behind the airline's massive flight cancellations in December 2022. Elliott is calling for executives from outside the company to replace Jordan and Kelly, and “significant” changes on the board, including new independent directors with experience at other airlines.

Savanthi Syth, an airline analyst for Raymond James Financial, said Elliott was likely attracted by Southwest's well-known brand, leading position at many airports and strong balance sheet, among other attributes. She suggested that necessary changes shouldn't be that hard to achieve.

Мы обобщили эту новость, чтобы вы могли ее быстро прочитать.Если новость вам интересна, вы можете прочитать полный текст здесь Прочитайте больше:

 /  🏆 543. in RU
 

Спасибо за ваш комментарий. Ваш комментарий будет опубликован после проверки

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Investment firm takes $1.9 billion stake in Southwest Airlines and wants to oust the CEOActivist shareholder Elliott Investment Management has bought a $1.9 billion stake in Southwest Airlines and is seeking to force out the CEO of the airline, which has struggled with operational and financial problems.
Источник: WashTimes - 🏆 235. / 63 Прочитайте больше »

Stocks making the biggest moves midday: Southwest Airlines, GameStop, Advanced Micro Devices and moreThese are the stocks posting the largest moves in midday trading.
Источник: CNBC - 🏆 12. / 72 Прочитайте больше »