Activist investor Elliott Investment Management on Monday warned of a proxy fight to push for leadership changes at budget carrier Southwest Airlines.In a letter to Southwest’s board, Elliott said while it is open to collaboration, it plans to “move expeditiously to give shareholders a direct say on the necessary leadership changes.”Southwest did not immediately respond to a request for comments.Elliott, known for pushing changes to boost shareholder returns, has called for a reconstitution of Southwest’s b ...

Has Received Overwhelmingly Supportive Feedback about Call for Leadership Change Responds to Company's Adoption of Shareholder-Unfriendly "Poison Pill" Reiterates Measures Necessary to Improve Performance Letter is available at StrongerSouthwest.com WEST PALM BEACH, Fla., July 8, 2024 /PRNewswire/ -- Elliott Investment Management L.P. (and its affiliates, "Elliott"), today sent a letter to the Board of Southwest Airlines Co. (NYSE: LUV) (the "Company" or "Southwest") summarizing the feedback received and ke ...

DALLAS, July 8, 2024 /PRNewswire/ -- The Board of Directors of Southwest Airlines Co. (NYSE: LUV) ("Southwest") (the "Company") has appointed Rakesh Gangwal as a member of the Board, effective July 7.Gangwal has deep and extensive airline industry experience and is the co-founder of India's largest airline by fleet size and passengers carried, InterGlobe Aviation, known as IndiGo. Before co-founding IndiGo in 2006, Gangwal served as Chairman, President, and Chief Executive Officer of Worldspan Technologies, ...

Southwest Airlines Co. (LUV) has provided updated guidance for second-quarter 2024.The company now expects its second-quarter revenue per available seat mile (RASM) to decline in the range of 4%-4.5% year over year, which marks a deterioration from the previous guidance of 1.5% to 3.5% decline. The downside in the RASM expectations was owing to the difficulties faced by LUV in adjusting its revenues to current booking patterns and consumer spending trends. Despite lowered expectations, LUV continues to anti ...

文章核心观点 - 航空公司增加航班和座位,导致西南航空公司的定价能力下降 [1][3][5] - 西南航空公司预计第二季度营业收入将创历史新高,但每可用座位英里收益(RASM)将下降4.0%至4.5% [2] - 西南航空公司在预测需求趋势方面存在困难,无法售出预期的座位数 [4] - 航空公司增加运力导致不得不降低票价,利润受到影响 [5] - 西南航空公司正努力改善财务业绩,并将在下次财报和9月投资者日分享详细计划 [7][8] 根据相关目录分别进行总结 行业概况 - 航空公司增加航班和座位,导致定价能力下降 [1][3][5] - 航空公司增加运力导致不得不降低票价,利润受到影响 [5] - 行业整体预计将迎来另一个创纪录的夏季旅行旺季 [6] 公司情况 - 西南航空公司预计第二季度营业收入将创历史新高,但RASM将下降4.0%至4.5% [2] - 西南航空公司在预测需求趋势方面存在困难,无法售出预期的座位数 [4] - 西南航空公司正努力改善财务业绩,并将在下次财报和9月投资者日分享详细计划 [7][8]

Southwest Airlines, already under pressure from a hedge fund for disappointing financial results, said Wednesday that a key revenue ratio will be weaker than expected because of changes in how consumers book travel.The airline said it still expects second-quarter revenue to hit a record.However, Southwest said, revenue for each seat flown one mile — a closely watched measure of pricing power — will fall by 4% to 4.5% compared with the same quarter last year. In April, the airline said the decline would be 1 ...

文章核心观点 - 西南航空公司下调了第二季度每可用座位英里收益(RASM)指引,原因是预订量疲软 [1][2][3] - 公司表示,这是由于在当前"动态环境"下,难以适应其预订模式的收益管理 [2][4] - 尽管预订疲软,但公司预计将创下历史最高的营业收入纪录 [5] 根据相关目录分别进行总结 公司业绩 - 西南航空公司下调了第二季度RASM指引,预计同比下降4.0%至4.5%,此前预期为下降1.5%至3.5% [3] - 公司预计第二季度每可用座位英里成本(CASM)将同比上升6.5%至7.5%,此前预期无变化 [4] - 尽管业绩指引下调,但公司预计将创下历史最高的营业收入纪录 [5] 公司经营 - 公司表示,这是由于在当前"动态环境"下,难以适应其预订模式的收益管理 [2][4] - 公司表示,第二季度至今的运营表现"持续强劲,取消航班很少" [5]

WEST PALM BEACH, Fla., June 26, 2024 /PRNewswire/ -- Elliott Investment Management L.P. ("Elliott"), today released the following statement on behalf of Partner John Pike and Portfolio Manager Bobby Xu regarding Southwest Airlines Co. (NYSE: LUV) (the "Company" or "Southwest") and its revenue guidance reduction announcement:Today's announcement marks the eighth guidance reduction at Southwest Airlines in the last 18 months with RASM (revenue per available seat mile) now expected to decline 4% to 4.5% in the ...

Southwest Airlines Co (NYSE:LUV) cut its fiscal second-quarter forecast today, as the industry struggles to predict demand trends. Plus, Boeing's (BA) safety issues resulting in delayed jet deliveries are limiting growth. At last check, LUV is down 3.9% to trade at $27.40.The shares are testing support at the $27 level, but gapping below the 40-day moving average as they look to snap their three-day win streak. The $30 region has acted as a ceiling since the equity's March pullback, rejecting a rally from e ...

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, ...