Elliott intends to call Southwest special meeting in coming weeks

Elliott Investment Management, which manages funds that together have an investment representing an approximately 11% economic interest in Southwest Airlines, sent a second open letter to the company’s shareholders. In the letter, Elliott Partner John Pike and Portfolio Manager Bobby Xu “wrote that although Elliott’s goal has been to collaborate with Southwest to restore accountability and best-in-class financial performance, Southwest has chosen a go-it-alone path, featuring a chaotic series of defensive actions, with the goal of obstructing a leadership change that is urgently needed. The letter made clear that Elliott intends to formally call a special meeting in the coming weeks – possibly as soon as next week. The letter also alerted shareholders to certain defensive actions that Southwest’s leaders are taking and urged them to take action to ensure they would be able to vote their shares.”