The airline has been under pressure from the hedge fund Elliott to replace its top management and make other changes to increase its profits.
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Southwest Airlines is ending its open seating policy after 50 years, shifting to assigned seating and premium rows. The company cites evolving customer preferences and the need to attract corporate travelers. This change follows pressure from Elliott Investment Management and reflects unsuccessful summer ticket sales affecting profits. Additionally, Southwest will introduce red-eye flights on five routes starting February to boost revenue.
The airline has been under pressure from the hedge fund Elliott to replace its top management and make other changes to increase its profits.
The airline has been under pressure from the hedge fund Elliott to replace its top management and make other changes to increase its profits.
Elliott Investment Management has now acquired more than 10% of
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