(Reuters) – Activist investor Elliott Investment Management has bought a nearly $2 billion stake in Southwest Airlines (NYSE:) and plans to push for changes aimed at fixing the airline’s weak performance, the Wall Street Journal reported on Sunday, citing people familiar with the matter. situation. .
Elliott is one of Southwest’s largest investors and plans to work with the airline’s management, the statement said.
Southwest and Elliott did not immediately respond to Reuters requests for comment.
The Dallas-based airline said in April it expected higher costs and slower-than-expected revenue growth as U.S. planemaker Boeing (NYSE:) will now be able to deliver just 20 planes to it this year.
Elliott, one of the world’s best-known investors, is known for pushing for changes at companies to improve shareholder returns.