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Non-Tech : Airline Discussion Board
JETS 20.73+3.4%Oct 4 4:00 PM EDT
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From: Sam8/5/2024 7:51:51 PM
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Elliott Confirms Southwest Airlines Stake Amid Push for Change -- Market Talk
Dow Jones Newswires August 05, 2024 07:46:00 PM ET

1946 ET - Elliott Investment Management disclosed its 7% beneficial ownership stake in Southwest Airlines, according to a Monday filing with the Securities and Exchange Commission. Its 11% investment size hasn't changed since it was first mentioned in June, when the hedge fund said it had built a $1.9 billion stake in Southwest and demanded the airline oust its chief executive, overhaul its board and consider big business-model changes. In response, the low-cost airline last month adopted a shareholder-rights plan that would kick in if an investor acquires at least 12.5% of the company, giving all other shareholders the right to buy stock at a 50% discount. Southwest shares rise 2.4% in after- hours trading. ( connor.hart@wsj.com ; @connorhart22)
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