Recently, over the course of two days, Southwest Airlines became the subject of rumors that it was acquiring JetBlue while sending shockwaves throughout the industry after a decision to institute the first layoffs in its 53-year history.
That was followed by an announcement outlining Southwest’s Chief Transformation Officer Ryan Green plans to depart the carrier in Apr-2025. Among his responsibilities are overseeing the implementation of assigned seating and the roll-out of the new airline’s extra legroom premium offering.
It’s hard not to conclude activist investor Elliott is behind the latest moves given Southwest and Elliot just reached a deal for an increased stake in the airline. Now the question is just how much of Southwest’s long-standing ideology will Elliott erode?