Reuters Activist investor Elliott Investment Management has built a nearly 2 billion stake in Southwest Airlines and plans to push for changes aimed at reversing the airline39;s underperformance, the Wall Street Journal reported on Sunday, citing people familiar with the matter.
Elliott is one of Southwest39;s largest investors and plans to engage with the airline39;s management team, the report said.
Southwest and Elliott did not immediately respond to Reuters39; requests for comment.
The Dallasbased airline said in April it expected higher costs and slowerthanexpected revenue growth as U.S. planemaker Boeing will now be able to deliver it just 20 aircraft this year.
Elliott, one of the world39;s most prominent investors, is known for pushing for changes at companies to boost shareholder returns.
Reporting by Devika Nair in Bengaluru; Editing by Jamie Freed
Source Reuters