Elliott Criticizes Southwest Airlines's Revenue Outlook Reduction

(RTTNews) - On Wednesday, Elliott Investment Management L.P. on behalf of Partner John Pike and Portfolio Manager Bobby Xu, criticised Southwest Airlines's (LUV) "disappointing" trend line of its revenue performance.

The investment firm's statement is in response to the airline company's outlook for a decline of 4 to 4.5 percent of revenue per available seat mile in the second quarter.

In the statement Elliott Investment said, "revenue performance is clearly continuing along the same disappointing trend line, despite management's repeated promises for improvement."

Elliott further added that the reduction was the result of "complexities in adapting" to the current environment. The statment noted that, "Unfortunately, this is yet another example that fundamental leadership change is urgently needed at Southwest."

Currently, Southwest Airlines's stock is falling 0.09 percent, to $28.49 on the New York Stock Exchange.