11:19 AM EDT, 08/26/2024 (MT Newswires) -- Elliott Investment Management raised its equity stake in Southwest Airlines ( LUV ) to 9.7%, the activist shareholder said Monday in a regulatory filing.

An investor with a 10% stake can call a special shareholder meeting to vote on directors, Securities and Exchange Commission rules show.

Southwest Airlines ( LUV ) didn't immediately respond to a request for comment by MT Newswires.

Separately, Elliott said Monday it intends to meet with Southwest ( LUV ) representatives on Sept. 9 to discuss leadership changes. Elliott urged the company to adopt new outside leadership and said it may start a proxy fight if necessary.

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