Activist investor Elliott Funding Administration has amassed an virtually $2 billion stake in Southwest Airways (NYSE:LUV) and plans to push for modifications.
Elliott is predicted to have interaction with the administration staff of Southwest (LUV), in accordance with a WSJ report on Sunday, which cited folks aware of the matter. Precise particulars of Elliott’s plans weren’t recognized.
The distinguished activist investor is without doubt one of the airline’s largest buyers, in accordance with the report. Southwest (LUV) has a market cap of $16.6 billion.
Shares of Southwest Airways (LUV) have fallen 4% this yr, whereas rival Delta Air Strains (DAL) has risen 25% and United Airways (UAL) has jumped 28%.