Activist investor Elliott Investment Management has accumulated an almost $2 billion stake in Southwest Airlines (NYSE:LUV) and plans to push for changes.
Elliott is expected to engage with the management team of Southwest (LUV), according to a WSJ report on Sunday, which cited people familiar with the matter. Exact details of Elliott’s plans weren’t known.
The prominent activist investor is one of the airline’s largest investors, according to the report. Southwest (LUV) has a market cap of $16.6 billion.
Shares of Southwest Airlines (LUV) have fallen 4% this year, while rival Delta Air Lines (DAL) has risen 25% and United Airlines (UAL) has jumped 28%.
