The airline will appoint six new directors to its board, avoiding a proxy fight with the activist investor Elliott Investment Management, one of its largest shareholders.

The settlement deflects a potentially rancorous proxy fight.

Southwest Airlines (LUV) and the activist hedge fund that has been trying to wrest control from the carrier’s management team might be about to reach an agreement to end their continuing proxy battle.

As part of the deal, CEO Bob Jordan will retain his job, but Executive Chairman Gary Kelly will accelerate his retirement. During the U.S. summer travel season, an oversupply of airline seats in the domestic sector compelled airlines to sell seats at lower prices to fill their planes,

Southwest Airlines Co. (NYSE: LUV) announced early Oct. 24 an agreement with activist investor Elliott Investment Management that will reshape the Dallas-based airline's board and avert a proxy fight.

Southwest Airlines (NYSE:LUV) and Elliott Investment Management are closing in on a settlement that would avoid the carrier's first proxy fight since 2017, according to Bloomberg News. Citing people familiar with the matter,

Elliott Investment Management and Southwest Airlines are close to reaching a settlement agreement that would avert a proxy battle over control of the airline's board, Bloomberg News reported on Wednesday,

Southwest Airlines Close to Settlement with Elliott Investment to Avoid Proxy Fight Southwest Airlines (NYSE: LUV) is reportedly nearing a settlement with Elliott Investment Management to avoid a proxy battle over