Elliott Management just cemented control of Southwest Airlines with a 14.8% stake, a level of activist ownership almost unheard of in aviation.
Behind the SEC filing, workforce cuts are already reshaping the airline: engineering, ops, HR, and sales are being trimmed to fit Elliott’s efficiency playbook.
This isn’t a “normal recovery.” It’s an activist reset with three clear levers… operational cuts, board power, and capital discipline… all pointing to margin expansion and a leaner future.
The full breakdown, including job family data, Elliott’s strategy, and why I still see a bull case to $40+, is inside.
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