Southwest Airlines
10 activist/short documents on this target.
Timeline
Share price down >50% over 3 years; 2024 EBITDAR tracking ~50% below 2018 despite record industry revenues
Southwest's outdated strategy collapsed margins from best-in-class 21% to worst-in-class 8%
Southwest lost 50%+ of market value and EV is below the value of its aircraft alone
Southwest lost 50%+ of market value in 3 years while peers thrived
Southwest has the worst margins of any major U.S. airline under a 74-year legacy leadership team; a new outside CEO, refreshed board and modernized commercial strategy can deliver a $49 share price, 77% upside.
Eighth guidance cut in 18 months proves leadership cannot deliver
Southwest is the most compelling airline turnaround opportunity in two decades
Worst-performing management team in airlines has destroyed more value than any peer
Southwest management has destroyed more value through inaction than anyone in the industry
Southwest's board lacks the airline-operator experience needed to lead a turnaround