On Wednesday, Elliott Investment Management L.P., represented by Partner John Pike and Portfolio Manager Bobby Xu, expressed criticism towards Southwest Airlines (LUV) for what they termed as its "disappointing" revenue performance trend.
The critique followed Southwest Airlines' forecast of a 4 to 4.5 percent decline in revenue per available seat mile for the second quarter.
Elliott Investment Management stated, "Revenue performance is clearly continuing along the same disappointing trend line, despite management's repeated promises for improvement."
The firm also cited the reduction in revenue as a result of "complexities in adapting" to the current market environment. They emphasized, "Unfortunately, this is yet another example that fundamental leadership change is urgently needed at Southwest."
As of now, Southwest Airlines' stock is trading at $28.49 on the New York Stock Exchange, down 0.09 percent.
