06:50 AM EDT, 09/25/2024 (MT Newswires) -- Southwest Airlines ( LUV ) said late Tuesday that activist investor Elliott Investment Management has refused to engage with the company despite its efforts "to reach a constructive resolution."

The low-cost carrier said Elliott demanded a supermajority of the board and immediate leadership changes even before speaking with its CEO, Bob Jordan, or hearing the company's plans.

Southwest ( LUV ) said it has already begun a board transformation and leadership changes, and it will consider up to three of Elliott's nominees. However, the investment firm declined to allow the candidates to meet with its board.

Southwest ( LUV ) reaffirmed its support for CEO Jordan, warning that any leadership changes during the transformation would be "detrimental to all shareholders."

Regarding Elliott's threat to call a special meeting, Southwest ( LUV ) said it would carefully review any request for a special meeting, but shareholders do not need to take any action at this time.

Elliott did not immediately respond to MT Newswires' request for comment.