Key TakeawaysSouthwest Airlines informed employees Wednesday that next year it will reduce its operations in Atlanta, amid pressure from Elliott Investment Management to make changes.The airline is also continuing its negotiations with Elliott, which has taken a roughly 11% stake in Southwest and called for significant changes.Southwest had said it would provide details on its future plans at its investor day Thursday. Southwest Airlines (LUV) is set to hold its annual investor day Thursday, and sent a memo ...

By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email.Access your favorite topics in a personalized feed while you're on the go. download the appThanks for signing up! Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewSouthwest Airlines is slashing unprofitable routes as it ...

Carrier adds flights to serve Nashville's travelers, including inaugural intra-Tennessee serviceRedeye offerings continue to growDALLAS, Sept. 25, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) today extended its flight schedule through June 4, 2025, opening Customer bookings through the Memorial Day weekend. With today's schedule extension, travelers will see continued investment in Nashville with more new destinations and the launch of additional redeye flights from Hawaii.The Beat Goes on in Mus ...

Southwest Airlines is planning to reduce service to and from Atlanta next year, cutting more than 300 pilot and flight attendant positions, according to a company memo seen by CNBC.The changes come a day before Southwest's investor day, when executives will map out the company's plan to cut costs and grow revenue as pressure mounts from activist investor Elliott Investment Management.Southwest told staff it isn't closing its crew base in Atlanta. Instead, it will reducing staffing by as many as 200 flight a ...

DALLAS, Sept. 24, 2024 /PRNewswire/ -- – Southwest Airlines Co. (NYSE: LUV) (the "Company") today issued a response to Elliott Investment Management L.P.'s ("Elliott") recent Shareholder letter and provided an update on its engagement with Elliott ahead of the Company's long-planned Investor Day set for Thursday, September 26:Elliott Engagement UpdateSouthwest has made every effort to reach a constructive resolution with Elliott, including over a dozen phone calls with Elliott representatives, several in-pe ...

Elliott Management said Tuesday it will call a special meeting at Southwest Airlines "as soon as next week," shortly after the company put forward a sweeping board shakeup that it hoped might stave off a proxy fight.The push comes days before the airline's investor meeting, where it is expected to unveil improvements and operating changes. Elliott is seeking to oust CEO Bob Jordan and executive chairman Gary Kelly, the latter of whom has already committed to stepping down in 2025. The activist has put forwa ...

Elliott Sends Second Open Letter to Its Fellow ShareholdersDeclares Intent to Call a Special Meeting in Coming Weeks, Given Urgent Need for Leadership ChangeSouthwest's Use of "False Record Dates" Requires Shareholders Take Action Now to Protect Their InvestmentWEST PALM BEACH, Fla., Sept. 24, 2024 /PRNewswire/ -- Elliott Investment Management L.P. ("Elliott"), which manages funds that together have an investment representing an approximately 11% economic interest in Southwest Airlines Co. (NYSE: LUV) (the ...

Southwest Airlines has warned employees that it will have to make "difficult decisions" ahead to boost profits as the carrier faces pressure from activist Elliott Investment Management, which has sought leadership changes at the company.Southwest over the summer announced a host of major changes to its more than 50-year-old business model to drum up revenue. It plans to ditch open seating for assigned seats, offer seats with more legroom that fetch a higher fare and start red-eye flights. It has also starte ...

LOS ANGELES, CALIFORNIA - SEPTEMBER 1: A Southwest Airlines Boeing 737 taxis at Los Angeles ... [+] International Airport after arriving from Phoenix on September 1, 2024 in Los Angeles, California. (Photo by Kevin Carter/Getty Images)Getty ImagesSouthwest Airlines (NYSE: LUV) has lost 10% in value since early January 2023 - falling from levels of around $32 then to under $29 now - underperforming the S&P 500 by more than 50% over this period. This can primarily be attributed to a 21% decline in the stock’s ...

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