Southwest Airlines announced it will hold an investor day at its Dallas headquarters in September.
an activist investor Elliott Investment Management has challenged the airline’s leadership and operations.
In June, Elliott disclosed an 11% stake in the Dallas-based airline, and has since bought up more common shares to gain a larger beneficial ownership in the company. On Aug. 13, a regulatory filing was released with the Securities and Exchange Commission unveiling Elliott’s 8.2% beneficial ownership in Southwest and detailed an aggressive push to buy more shares,once it achieves 10%. Southwest’s bylaws require shareholders to obtain 10% in common shares, which are also voting shares, in order to call a special shareholder meeting. That meeting could come to a vote on new board candidates, who have the ability to oust executive leadership.
“I’m focused on transforming Southwest for the next 50+ years,” Jordan wrote in a memo to Southwest employees last week. “Elliott is focused on a future just long enough to cash a big check, no matter what state that leaves the company in— or your future — in.”, Aviation Reporter. Alexandra Skores is the aviation writer for The Dallas Morning News, covering airlines, air travel and the aerospace industry. She's a graduate of the University of Iowa.
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