Says has built 1.9 bln usd stake in US carrier (Il Sole 24 Ore Radiocor) - New York, 10 Jun - Activist investor Elliott Investment Management has sent a letter to the Board of Directors of Southwest Airlines calling for upgraded leadership at the US carrier and a comprehensive business review.

In a statement Elliott said it believed Southwest stock could achieve 49 dollars per share within 12 months, the equivalent of a 77% return.

It said it managed funds that together have an investment of approximately 1.9 billion dollars in Southwest Airlines.

"Southwest's rigid commitment to a decades-old approach has inhibited its ability to compete in the modern airline industry, Elliott said, and this ethos pervades the entire business with outdated software, a dated monetization strategy and antiquated operational processes," Elliott said in the letter.

AAA-Sje

(RADIOCOR) 10-06-24 19:37:19 (0599) 5 NNNN