Activist hedge fund Elliott Investment Management on Thursday blamed Southwest CEO Bob Jordan for the airline’s sagging fortunes — hours after the embattled carrier raised its outlook for profits and revenue.Elliott, led by billionaire Paul Singer, reaffirmed its intent to call a special meeting to oust the current board and encouraged shareholders to confirm their ability to vote on all of their shares ahead of the meeting.“Why is Mr. Jordan – who has delivered years of unacceptable financial results and, ...

文章核心观点 - 投资公司Elliott对西南航空公司(Southwest Airlines Co.)提出批评,认为公司CEO Bob Jordan缺乏执行力,无法实现公司的转型计划 [1][2] - Elliott呼吁召开特别股东大会,选举独立的优秀董事会,以推动公司更强劲的发展 [3] 公司概况 - 西南航空公司是一家总部位于美国德克萨斯州的航空公司 [1] - Elliott目前持有公司约11%的股份,是公司的大股东之一 [7] 公司业绩 - 2021年和2022年,公司曾承诺实现数十亿美元的盈利改善,但实际上出现了数十亿美元的盈利下滑 [1] - 公司CEO Bob Jordan在很长一段时间内对公司当前的问题视而不见 [2] 公司转型计划 - 公司宣布了一些转型计划,如增加指定座位和推出高端产品,但实施需要多年时间,显示公司CEO缺乏执行力 [2] - 这些转型计划被视为公司CEO在拖延时间,而非真正追求成功 [2]

The company raised guidance, and offered an upbeat outlook.Southwest Airlines (LUV 6.83%) raised its third-quarter forecast today and announced a series of steps designed to revitalize its business model. Investors are climbing on board, sending Southwest shares up as much as 11.4% on the day, and up 7.6% as of 1 p.m. ET.Building a better airlineSouthwest is an airline pioneer, but the company has been flying through turbulence in recent years. The shares have lost more than 40% of their value over the past ...

Key TakeawaysSouthwest Airlines shares surged Thursday as the airline adjusted its third-quarter and full-year projections, and announced a $2.5 billion stock buyback program.The announcements preceded the start of Southwest's Investor Day on Thursday.The airline has faced pressure in recent months from activist investor Elliott Investment Management to make revenue-generating adjustments and to change its executive leadership. Shares of Southwest Airlines (LUV) jumped Thursday as it announced a $2.5 billio ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Southwest Airlines Co (NYSE:LUV) stock is driving the New York Stock Exchange (NYSE) higher today, last seen up 10.3% to trade at $31.33. The airliner raised its third-quarter revenue forecast, while also authorizing a $2.5 billion share repurchase program. The news has pushed the entire airline sector firmly into the black today. Southwest stock is on track for its best single session gain since 2020, and is trading at its highest level since a steep 14.9% bear gap on March 12. The shares have now reclaime ...

Southwest Airlines raised its third-quarter revenue forecast, authorized $2.5 billion in share buybacks and announced a slew of changes to its business as it continues to face pressure from activist hedge fund Elliott Investment Management.The company says its business plan will rake in an additional $4 billion in earnings before interest and taxes by 2027.Southwest said it expects unit revenue growth up to 3% in the third quarter compared to the same period last year – up from previous estimates of a 2% de ...

Southwest Airlines raised its third-quarter revenue forecast on Thursday and detailed a host of changes to its business model as it seeks to fend off activist Elliott Investment Management.The airline said it expects unit revenue to rise as much as 3% in the third quarter over the same period last year, up from a previous forecast of a decline of as much as 2%.The carrier also said it would add Bob Fornaro, a well-respected industry veteran who previously led Spirit Airlines, to its board of directors. Sout ...

DALLAS, Sept. 26, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) (the "Company") has appointed Robert "Bob" Fornaro as a member of the Board, effective immediately.Fornaro is an accomplished airline executive with four decades of experience in the industry. He previously served on the Board of Directors of Spirit Airlines beginning in May 2014 until September 2019 and as President and Chief Executive Officer from January 2016 until December 2018, during which time he led the low-cost carrier throug ...

"We're now ushering in a new era at Southwest, moving swiftly and deliberately to transform the Company by elevating the Customer Experience, improving financial performance, and driving sustainable Shareholder value," said Bob Jordan, President, Chief Executive Officer, and Vice Chairman of the Board.Key themes and new initiatives to be detailed at Investor Day include:Transforming Our Product to Meet Customer PreferencesSouthwest's transformation is guided by data-driven research of travelers' changing ne ...