Southwest’s Revenue Outlook Cuts Prompt Further Criticism From Activist Investor Elliott Management

At a time when other airlines are recovering from the pandemic and benefiting from a return to international travel, Southwest Airlines has cut its second-quarter revenue forecast. Passengers are flying again, but high costs and capacity growth have impacted fares and profits. The investment fund, Elliott Investment, has bought shares in Southwest Airlines and is demanding a shake-up in the airline’s business model and management.