financetom
Business
financetom
/
Business
/
Southwest Airlines warns staff of 'tough decisions' ahead, Bloomberg reports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Southwest Airlines warns staff of 'tough decisions' ahead, Bloomberg reports
Sep 21, 2024 8:51 PM

Sept 21 (Reuters) - Southwest Airlines ( LUV ) has

warned employees that it will soon make tough decisions as part

of a strategy to restore profits and counter demands from

activist investor Elliott Investment Management, Bloomberg News

reported on Saturday.

The airline is considering making changes to its flight

routes and schedules to increase revenue, the report added,

citing the transcript of a video message to employees by Chief

Operating Officer Andrew Watterson.

"I apologize in advance if you as an individual are affected

by it," Watterson said, according to the report, adding that he

didn't offer any details on the pending moves.

Southwest ( LUV ) did not immediately respond to a Reuters request

for comment.

The airline has been struggling to find its footing after

the COVID-19 pandemic, in part due to Boeing's ( BA ) aircraft

delivery delays and industry-wide overcapacity in the domestic

market.

It plans to offer assigned and extra-legroom seats to

attract premium travelers and start overnight flights. It will

present the details to investors on Sept. 26.

Earlier this week, Reuters reported that Elliott, which owns

10% of Southwest's ( LUV ) common shares, told one of the company's top

unions it still wants to replace CEO Robert Jordan, even after

the carrier pledged to shake up its board.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Western Union Partners With HCLTech to Adopt AI-Powered Platform Model
Western Union Partners With HCLTech to Adopt AI-Powered Platform Model
Mar 24, 2025
02:01 PM EDT, 03/24/2025 (MT Newswires) -- Western Union ( WU ) partnered with HCLTech to use its artificial intelligence-powered tools in transitioning to a platform operating model, the companies said Monday. HCLTech, now Western Union's ( WU ) largest preferred partner, will support the company's efforts to enhance platform and channel capabilities, improve efficiency through AI-powered automation, and strengthen...
Vivopower Receives Takeover Proposal From UAE-Based Energy
Vivopower Receives Takeover Proposal From UAE-Based Energy
Mar 24, 2025
02:03 PM EDT, 03/24/2025 (MT Newswires) -- VivoPower International ( VVPR ) said Monday it received an unsolicited takeover proposal from Abu Dhabi, United Arab Emirates-headquartered Energi Holdings valuing all free float shares of the company at an enterprise value of $120 million. The company said its board members are reviewing the proposal and will provide an update as soon...
OpenAI COO to spearhead global growth, partnerships in expanded role, Altman says
OpenAI COO to spearhead global growth, partnerships in expanded role, Altman says
Mar 24, 2025
March 24 (Reuters) - OpenAI's Chief Operating Officer Brad Lightcap will oversee global expansion and corporate partnerships, CEO Sam Altman said on Monday, as the Microsoft ( MSFT )-backed startup seeks to cement its dominance in the fast-growing AI industry. The ChatGPT-maker is partnering with SoftBank Group and Oracle to establish a network of data centers under the $500-billion Stargate...
Microsoft Unusual Options Activity For March 24
Microsoft Unusual Options Activity For March 24
Mar 24, 2025
Investors with a lot of money to spend have taken a bullish stance on Microsoft ( MSFT ) . And retail traders should know. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether these are institutions or just wealthy individuals, we don't know. But when something this big...
Copyright 2023-2026 - www.financetom.com All Rights Reserved