Southwest Airlines has had a rocky few quarters, thanks to several mass delays and cancelation events, and now it’s not just the disgruntled customers who are no longer loyal.
A major investment firm is taking a huge stake in the carrier and demanding that changes be made, starting with leadership.
Elliot Investment Management, which announced a $1.9 billion stake in the Dallas-based airline on Monday, penned an open letter to Southwest’s Board of Directors urging shareholders to vote to change the airline’s executive leadership and take operations in a different direction.
Related: ‘Completely Unacceptable’: Southwest Delays Thousands of Flights Due to ‘Technological Issue’
“Poor execution and leadership’s stubborn unwillingness to evolve the
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