Elliott Investment Pushes for Leadership and Board Overhaul at Southwest Airlines (LUV) Amid Strategy and Governance Failures

The Elliott presentation “Stronger Southwest” argues that Southwest Airlines has lost its edge due to outdated strategy, weak leadership, and lack of accountability, resulting in poor financial and operational performance. Elliott, now a major shareholder with an $1.9 billion stake, calls for a board refresh with independent airline and technology experts, replacement of entrenched leadership, and a comprehensive business review to modernize operations, reduce costs, and improve customer offerings. Elliott believes its plan can restore industry leadership, generate strong margins, deliver up to 77% stock upside in 12 months, and create significant long-term value for employees, customers, and shareholders.