American-based activist investor Elliott Investment Management has bought a $1.9bn stake in Southwest Airlines. Following reports, the low-cost carrier’s shares rose approximately 7% in premarket trade on June 10, 2024. According to the Wall Street Journal, Elliott is one of Southwest’s largest investors. Raymond James analyst Savanthi Syth, who has an ‘outperform’ rating on the airline, said: “We are not surprised by activist interest in Southwest given the very strong franchise with valuable tangible and intangible assets, such as brand (including loyalty program and co-branded credit card), fleet (current and orderbook), network, and balance sheet (net cash position unique among

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