LUV - Elliott Investment Criticizes Southwest Airlines Execution In Letter Promises 77% Stock Return Potential | Benzinga
Elliott Investment Management, which has a $1.9 billion stake in Southwest Airlines Co (NYSE:LUV), has sent a letter to Southwest’s Board of Directors criticizing the company’s outdated strategies and poor execution.
The reports of Elliott’s stake boosted investor confidence, sending the stock price higher on Monday.
Elliott asserts that Southwest’s refusal to modernize, evident in the December 2022 operational meltdown, has resulted in disappointing outcomes for shareholders, employees, and customers.
Elliott points out Southwest’s share price decline of over 50% in the past three years and the financial impact on ...