Southwest Airlines leaders say they will provide more details about their plan to change the airline and increase profits. Southwest is holding an investor meeting Thursday at its Dallas headquarters.
FILE - A Southwest Airlines ticket agent checks in passengers at Love Field in Dallas , July 25, 2024. FILE - A Southwest Airlines plane moves to depart from Love Field in Dallas , July 25, 2024. FILE - Travelers line up to board a Southwest Airlines plane at Love Field in Dallas , Thursday, July 25, 2024. FILE - A Southwest Airlines ticket agent checks in passengers at Love Field in Dallas , July 25, 2024.
Elliott now owns more than 10% of Southwest shares and is the airline’s second-biggest shareholder. The hedge fund wants to fire Chairman Gary Kelly andSouthwest plans to cut flights in Atlanta while adding them elsewhere. Its unions are unhappyHedge fund Elliott Investment Management steps up pressure on Southwest Airlines’ managementDespite its demand that heads roll, Elliott has said it wants to work with Southwest to improve the company’s financial results.
“We’re willing to compromise, but acquiescing to a single shareholder’s demand for control of the company is not a compromise,” Jordan said. “There’s a lot to be excited about in Southwest, and we will not allow Elliott’s public attacks to distract us.” But Southwest has built years of advertising campaigns around bags-fly-free. Taking away that perk could change the airline’s DNA as much as — or maybe more — than dumping open seating.
Company management heads into the investor day having angered an important interest group: its own workforce. The airline told employees Wednesday that it will make sharp cutsThe pilots’ union said it was “simply amazing” that Southwest was retreating in such a huge market “because this management group has failed to evolve and innovate.” That echoed a key Elliott talking point.
However, the unions are concerned that more of their members could be forced to relocate or commute long distances to keep their jobs. Southwest’s chief operating officer told employees last week that the airline will have to make “difficult decisions” about its network to improve its financial performance.
Financial Services Atlanta General News Dallas U.S. News Corporate Management N Business Gary C. Kelly A F Stocks And Bonds U.S. News
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alaska Airlines plane aborts takeoff to avoid colliding with Southwest Airlines plane in NashvilleAn Alaska Airlines flight aborted takeoff to avoid potentially colliding with a Southwest Airlines plane that was cleared to cross in front of it in Nashville, officials said.
Read more »
Alaska Airlines plane aborts takeoff in Nashville to avoid hitting a Southwest Airlines aircraftAlaska says that the pilots of Flight 369 had to quickly apply the brakes due to “a potential traffic conflict on the runway.” No injuries were reported.
Read more »
Alaska Airlines plane aborts takeoff to avoid colliding with Southwest Airlines aircraftAn Alaska Airlines flight that had been cleared for takeoff in Nashville, Tennessee, was forced to abort Thursday to avoid colliding with a Southwest flight.
Read more »
Alaska Airlines plane aborts takeoff to avoid hitting Southwest Airlines jet in NashvilleAlaska Airlines flight that had been cleared for takeoff in Nashville, Tennessee, was forced to abort to avoid colliding with a Southwest Airlines plane,...
Read more »
Southwest Airlines tells staff ‘difficult decisions' ahead in push to boost profitsSouthwest will provide more detail about its plans to raise profits at an investor day on Sept. 26.
Read more »
Southwest Airlines COO warns of 'difficult decisions' to boost profitsSouthwest Airlines Chief Operating Officer Andrew Watterson has told staff that the company will need to make 'difficult decisions' to improve profitability. Watterson said this could involve changes to the airline's network and flight schedules, though he emphasized that station closures are not on the table.
Read more »