Elliott builds $2B stake in Southwest Airlines, WSJ reports

Elliott Investment Management has built a stake of nearly $2B in Southwest Airlines and plans to push for changes aimed at reversing the airline’s underperformance, The Wall Street Journal’s Lauren Thomas and Alison Sider report. The activist is one of Southwest’s largest investors, according to people familiar with the matter. Elliott plans to engage with the management team at Southwest, which has a market capitalization of $16.6B. Other details of Elliott’s plans couldn’t be learned, the authors say.