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☆ Starbucks considers next moves in China — Cramer says new CEO 'is not fooling around'
▼ + stars: | 2024-11-21 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

The coffee giant's statement was in response to a Bloomberg report that Starbucks is considering selling a stake in its China operations. According to Bloomberg, such options could spur investment from Chinese companies or private equity firms to help Starbucks navigate the domestic coffee market. "There's a reason why Starbucks stock hasn't gone down from when Niccol was picked," Jim argued, touting Niccol's successful six-years-plus leading Chipotle . Niccol started as Starbucks CEO in September, replacing Laxman Narasimhan who was ousted after just 17 months on the job. An employee services in a Starbucks coffee truck at Wuhan International Plaza on October 6, 2022 in Wuhan, Hubei province, China.

Persons: Brian Niccol, Bloomberg, Brian, Niccol, Jim Cramer, Jim, Niccol's, Laxman Narasimhan, Narasimhan, Howard Schultz, Jim Cramer's Organizations: Starbucks, Bloomberg, Elliott Investment Management, U.S, CNBC, Wuhan International Plaza, Getty Locations: China, U.S, Wuhan, Hubei province

Here's a rapid-fire update on all the stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. This time around, Trump's tariff proposals on Chinese imports could help Amazon in its competition against low-price online sellers Temu and Shein. Salesforce : Not a Trump stock, but it wasn't a Kamala Harris stock either. Constellation Brands : The Mexican beer importer has been punished on fears about what Trump's tariff and immigration proposals could do to its business. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, Jim, Donald Trump's, Trump's, Abbott, Trump, Hock Tan, Tan, We'll, it's pricier, Morgan Stanley, Wells, Kamala Harris, Agentforce, That's, Biden, Dover, Eaton's, Elon, Waymo, JD Vance, we've, Linde, that's, Eli Lilly, Robert F, Kennedy Jr, Kennedy, Lilly, Mark Zuckerberg, Zuckerberg, Goldman Sachs, shouldn't, Nextracker, Brian Niccol, Niccol, Stanley Black, Decker, TJ Maxx, Wells Fargo, Jim Cramer Organizations: Jim Cramer's Charitable Trust, CNBC, Abbott Laboratories, Abbott Labs, White, Biden, AMD, Trump, Wednesday, Broadcom, VMWare, BlackRock, Costco, Coterra Energy, Coterra, DuPont, Disney, GE Healthcare, GE Aerospace, Google, Honeywell, Elliott Investment Management, Linde, Microsoft, Big Tech, Apple, Meta, Financial Times, Nvidia, Palo Alto Networks, Yum Brands, Taco Bell, Constellation Brands, Management, TJX, Marshalls, Jim Cramer's Charitable Locations: China, India, Missouri, Wells Fargo, BlackRock, Shanghai, Dover, U.S, Palo, HomeGoods

☆ Watch CNBC’s full interview with Southwest Airlines CEO Bob Jordan
▼ + stars: | 2024-10-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Southwest Airlines CEO Bob JordanSouthwest Airlines CEO Bob Jordan joins 'Squawk on the Street' to discuss Southwest's deal with Elliott Investment Management, the company's third-quarter results, and more.

Persons: Bob Jordan Organizations: Southwest Airlines, Bob Jordan Southwest, Elliott Investment Management

☆ Southwest CEO Bob Jordan: Elliott deal is good for our shareholders
▼ + stars: | 2024-10-24 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSouthwest CEO Bob Jordan: Elliott deal is good for our shareholdersBob Jordan, Southwest Airlines CEO, joins CNBC's 'Squawk on the Street' to discuss Southwest's deal with Elliott Investment Management, the company's third-quarter results, and more.

Persons: Bob Jordan, Elliott Organizations: Southwest Airlines, Elliott Investment Management

☆ Southwest Airlines profit tops estimates, expects higher revenue in fourth quarter
▼ + stars: | 2024-10-24 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

A Southwest Airlines plane takes off from Hartsfield-Jackson Atlanta International Airport (ATL) in Atlanta, Georgia, US, on Friday, July 12, 2024. Southwest Airlines third-quarter profit fell from a year ago but topped Wall Street estimates while the carrier workers to drum up revenue and fend off activist investor Elliott Investment Management. "Thus far in the quarter, travel demand remains healthy and bookings-to-date for the holiday season are strong, demonstrating the continued resilience of the leisure travel market," Southwest said in an earnings release. Southwest said Thursday that it will repurchase $250 million of Southwest stock through an "accelerated" program under the overall buyback plan. Net income fell 65% from the year-earlier quarter to $67 million, or 11 cents a share, though that was ahead of estimates.

Organizations: Southwest Airlines, Hartsfield, Jackson Atlanta International, Elliott Investment Management, Southwest Locations: Atlanta , Georgia, Dallas, Atlanta

☆ Top 10 things to watch in the stock market Thursday, including news on Nvidia, 3 other Club stocks
▼ + stars: | 2024-10-24 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +4 min

Top 10 things to watch Thursday, Oct. 24 CNBC's Matthew J. Belvedere with the help of Jeff Marks wrote this dispatch. Tesla shares were jumping 14.5% and leading the Nasdaq toward a higher open after the EV maker beat on quarterly earnings per share (EPS). Club industrial stocks Honeywell and Dover were dropping after issuing quarterly results. Semiconductor equipment maker Lam Research beat on quarterly earnings and revenue and its stock jumped 5%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Matthew J, Jeff Marks, Stocks, Jensen Huang, TSMC, Oppenheimer, Boeing machinists, Gary Kelly, Bob Jordan, EBITDA, Jim Cramer's, Jim Cramer, Jim, Ritzau Scanpix, Mads Claus Rasmussen Organizations: Nasdaq, Elon, Honeywell, Dover, Nvidia, Blackwell, Semiconductor, Lam Research, Boeing, Southwest Airlines, Elliott Investment Management, United Parcel Service, International, Mobile, Jim Cramer's Charitable, CNBC, EIFO, NVIDIA, Vilhelm, Via Reuters Locations: India, Southwest, Kastrup, Denmark

☆ Why a hedge fund made a podcast about a shake-up it's pushing for at Southwest Airlines
▼ + stars: | 2024-10-21 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +6 min

Elliott Investment Management launched a podcast to influence Southwest Airlines shareholders. AdvertisementLast week, activist firm Elliott Investment Management launched a podcast as part of its efforts to influence Southwest Airlines shareholders. Related storiesElliott said its "Stronger Southwest" podcast will have one-on-one conversations with the firm's nominated directors. But companies like Southwest and Disney, which saw similar activist interest last year, have a lot of individual investors. Before the podcast, Elliott rolled out a website and accounts on Instagram, X, and YouTube.

Persons: —, Elliott, Bob Jordan, Jordan, Gary Kelly, Southwest's, Gregg Saretsky —, Scott Bisang, Bisang, Cas Sydorowitz, Georgeson, Sydorowitz, Disney, Nelson Peltz, Bob Iger Organizations: Elliott Investment Management, Southwest, Service, Apple, YouTube, Bloomberg, Disney, Hollywood

☆ Stocks making the biggest moves midday: Boeing, UPS, Cigna, Warby Parker and more
▼ + stars: | 2024-10-21 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in midday trading: Boeing — The stock climbed 3%. Cigna — The insurer's stock slid more than 4% after Bloomberg reported, citing people familiar with the matter, that Cigna has reignited merger discussions with Humana. AppLovin — The application technology stock jumped 8% on the back of a major price target hike from Bank of America. Atlantic Union Bankshares — The holding company for Atlantic Union Bank pulled back more than 5% after third-quarter net interest income missed analysts' estimates. Atlantic Union reported net interest income of $186.8 million, while analysts polled by FactSet were looking for $195.0 million.

Persons: Warby Parker, Goldman Sachs, Cigna, AppLovin, Bernstein, FactSet, Johnson, —, Samantha Subin, Michelle Fox, Alex Harring, Sean Conlon Organizations: Boeing, Bloomberg, Humana, United Parcel Service, Barclays, Bank of America, Southwest Airlines —, CNBC, Elliott Investment Management, ASML Holdings, Atlantic, Atlantic Union Bank, Atlantic Union, Johnson Locations: Bank

☆ Stocks making the biggest moves premarket: Boeing, Kenvue, Humana, Warby Parker and more
▼ + stars: | 2024-10-21 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Humana , Cigna – Shares of both companies moved in opposite directions after Bloomberg, citing people familiar with the matter, reported that Cigna resumed merger talks with Humana. Humana gained more than 4% while Cigna fell a similar amount. UPS – Shares fell nearly 2% after a downgrade to underweight from equal weight at Barclays. Southwest Airlines – Shares dipped more than 1% before the market open. ASML – Shares fell more than 1% after Bernstein lowered its price target on the Dutch semiconductor equipment stock.

Persons: Johnson, Warby Parker, Goldman Sachs, Goldman, Cigna, Humana, Bernstein, —, Alex Harring, Samantha Subin, Jesse Pound, Hakyung Kim, Michelle Fox Theobald Organizations: Wall Street Journal, Johnson, Boeing, Bloomberg, Humana, –, Barclays, Amazon, Southwest Airlines, Elliott Investment Management, CNBC Locations: –

A Southwest Airlines plane takes off from Hartsfield-Jackson Atlanta International Airport (ATL) in Atlanta, Georgia, US, on Friday, July 12, 2024. Elliott Investment Management and Southwest Airlines have been discussing a settlement that would give the activist investor significant representation on the airline's board, according to people familiar with the matter. The settlement talks are predicated on a deal that would give Elliott less than full board control, said the people, who asked not to be named because the negotiations are confidential. Southwest's board will drop to 12 members after Chairman Gary Kelly steps down next year, meaning Elliott would likely end up wither fewer than six selections. The talks are in early stages, and it's possible that no deal could be reached, some sources said.

Persons: Elliott, Gary Kelly, Bob Jordan, Jordan Organizations: Southwest Airlines, Hartsfield, Jackson Atlanta International, Elliott Investment Management, Bloomberg News, Dallas Locations: Atlanta , Georgia, Atlanta

☆ Elliott asks for December special meeting at Southwest Airlines, cuts board slate to 8
▼ + stars: | 2024-10-14 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Elliott Investment Management has requested a special meeting at Southwest Airlines , formalizing the launch of a long-signaled proxy fight for control of the carrier's board. Elliott has also trimmed the size of its board slate from 10 director candidates to eight, after Southwest shrunk its board size from 15 to 12. CNBC reported last month that Elliott was preparing to call a special meeting. David Hess, who joined Southwest's board in 2021, was also on the board of Arconic in the midst of its proxy fight with Elliott. Elliott has never before called for a special meeting, which at Southwest carries a higher threshold of approval compared with voting at a regularly scheduled shareholder meeting.

Persons: Elliott, Bob Jordan, Gary Kelly, David Hess, Elliott . Hess, Jordan, Southwest's, John Pike, Bobby Xu, — CNBC's Leslie Josephs Organizations: Hartsfield, Jackson Atlanta International, Elliott Investment Management, Southwest Airlines, Southwest, CNBC, Alcoa, Artisan Partners, Salesforce, Starbucks Locations: Atlanta , Georgia

☆ Extra legroom, assigned seats, overnight flights: Inside Southwest Airlines' plan for its future
▼ + stars: | 2024-09-26 | by ( Leslie Josephs | ) www.nbcnews.com time to read: +6 min

DALLAS — Southwest Airlines executives on Thursday outlined for Wall Street their vision to boost profits: extra legroom seats starting in 2026, assigned seating, international partnerships and overnight flights. Southwest’s new plan comes as its leaders seeks to fend off activist Elliott Investment Management, which has called for leadership changes. He had served as CEO of AirTran, the airline Southwest combined with in 2011, and was a consultant to Southwest after the merger. Southwest has supported Jordan despite calls for his replacement by Elliott, which didn’t immediately respond to the airline’s plan it laid out on Thursday. He called Southwest’s plan intentional and detailed.

Persons: ”, Ryan Green, “, Bob Fornaro, Fornaro, Bob Jordan, Jordan, Elliott, didn’t, ” Jordan, “ We’ve, — CNBC’s Rohan Goswami Organizations: DALLAS, Southwest Airlines, Wall, Elliott Investment Management, Federal Aviation Administration, Southwest, Spirit Airlines, AirTran, Boeing Locations: Southwest, Atlanta, Dallas, Hawaii

☆ Stocks making the biggest moves midday: Micron Technology, Super Micro Computer, Southwest Airlines and more
▼ + stars: | 2024-09-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Southwest Airlines — The airline jumped 11% after it raised its third-quarter revenue forecast and authorized $2.5 billion in share buybacks. Starbucks — The coffee chain rose nearly 2% after Bernstein upgraded shares to outperform , citing confidence in the company's new CEO . CarMax — The used car retailer jumped nearly 6% after topping sales estimates for the fiscal second quarter. New York Community Bank — Shares of the regional lender jumped nearly 8% after Barclays upgraded the stock to overweight from equal weight. Accenture — The professional services stock rose nearly 5% on better-than-expected fiscal fourth quarter results.

Persons: Bernstein, Jabil, Goldman Sachs, Goldman, Morgan Stanley, Erik Woodring, —, Jesse Pound, Yun Li, Alex Harring, Pia Singh, Hakyung Kim Organizations: Micron Technology, Applied Materials, ASML, Lam Research, Wall Street Journal, Justice Department, Southwest Airlines —, Elliott Investment Management, Starbucks, NRG Energy, GE Healthcare —, UBS, Jefferies, New York Community Bank, Barclays, Bilibili, Accenture Locations: China, Bilibili —

☆ Southwest Airlines raises summer revenue forecast, authorizes $2.5 billion in share buyback
▼ + stars: | 2024-09-26 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

DALLAS — Southwest Airlines raised its third-quarter revenue forecast on Thursday, announced its board authorized $2.5 billion in share buybacks and detailed a host of changes to its business model as it seeks to fend off activist Elliott Investment Management. Southwest executives are presenting their vision for the company's future at the airline's Dallas headquarters on Thursday in an investor day presentation. Southwest executives will try to convince investors that it is on the right track to boost profits and increase revenue. A day earlier, Southwest told staff it will slash its service in Atlanta next year and could cut more than 300 flight attendants and pilots from the city in an effort to reduce costs. Elliott later told Southwest mechanics' union that it still wanted a leadership change at the top of the carrier.

Persons: Bob Fornaro, Fornaro, Bob Jordan, Elliott, Gary Kelly, didn't, — CNBC's Rohan Goswami Organizations: DALLAS, Airlines, Elliott Investment Management, Spirit Airlines, Southwest, AirTran, Dallas Locations: Atlanta

☆ Southwest reveals when and how it will get rid of open seating
▼ + stars: | 2024-09-26 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Southwest Airlines’ substantial changes to its business and boarding process are coming – but not for a while. Southwest announced in July it would move away from the open seating model it has been known for throughout its 53-year history. It also announced it would offer premium seating for the first time. Part of the reason Southwest isn’t rolling out its assigned seating model sooner is that premium seating will take some time to reconfigure in the planes. It did not give details for when the premium seating with more legroom between seats would be available.

Persons: Elliott, Icelandair Organizations: New, New York CNN, Southwest Airlines, Southwest, Elliott Investment Management, United, Delta, Baltimore - Washington International Airport Locations: New York, Southwest, Baltimore

☆ Southwest Airlines to cut service and staffing in Atlanta to slash costs
▼ + stars: | 2024-09-25 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Southwest Airlines is planning to reduce service to and from Atlanta next year, cutting more than 300 pilot and flight attendant positions, according to a company memo seen by CNBC. The changes come a day before Southwest's investor day, when executives will map out the company's plan to cut costs and grow revenue as pressure mounts from activist investor Elliott Investment Management. Southwest told staff it isn't closing its crew base in Atlanta. Instead, it will reducing staffing by as many as 200 flight attendants and as many as 140 pilots, for the April 2025 bid month. Southwest isn't laying the crews off, but they will likely have to bid to work from other cities.

Organizations: Airlines, CNBC, Elliott Investment Management, Southwest, Hospitality Locations: Atlanta

☆ Southwest Airlines tells staff ‘difficult decisions' ahead in push to boost profits
▼ + stars: | 2024-09-23 | by ( Leslie Josephs | ) www.nbcnews.com time to read: +2 min

Southwest Airlines has warned employees that it will have to make “difficult decisions” ahead to boost profits as the carrier faces pressure from activist Elliott Investment Management, which has sought leadership changes at the company. Southwest over the summer announced a host of major changes to its more than 50-year-old business model to drum up revenue. It plans to ditch open seating for assigned seats, offer seats with more legroom that fetch a higher fare and start red-eye flights. We also have to change our network,” Watterson said in the video, a transcript of which was seen by CNBC. Southwest did not immediately comment on the staff message.

Persons: Andrew Watterson, “, ” Watterson, Elliott, Gary Kelly Organizations: Southwest Airlines, Elliott Investment Management, Google, CNBC, JetBlue, Southwest, Wing Locations: It’s, Dallas

☆ Southwest Airlines tells staff 'difficult decisions' ahead in push to boost profits
▼ + stars: | 2024-09-23 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Southwest Airlines has warned employees that it will have to make "difficult decisions" ahead to boost profits as the carrier faces pressure from activist Elliott Investment Management, which has sought leadership changes at the company. Southwest over the summer announced a host of major changes to its more than 50-year-old business model to drum up revenue. It plans to ditch open seating for assigned seats, offer seats with more legroom that fetch a higher fare and start red-eye flights. We also have to change our network," Watterson said in the video, a transcript of which was seen by CNBC. Southwest did not immediately comment on the staff message.

Persons: Andrew Watterson, Watterson, Elliott, Gary Kelly Organizations: Southwest Airlines, Elliott Investment Management, Google, CNBC, JetBlue, Southwest, Wing Locations: It's, Dallas

☆ Stocks making the biggest moves midday: Ally Financial, Southwest Airlines, Oracle and more
▼ + stars: | 2024-09-10 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Mission Produce , Calavo Growers — Shares gained 20% after the avocado producer reported a year-over-year revenue increase of 24% for the fiscal third quarter. Calavo Growers advanced around 12% after the rival producer reported adjusted earnings of 57 cents per share in its fiscal third quarter. That is more than the 43 cents per share that analysts were expecting, according to FactSet. Oracle — Shares of the database software company surged more than 11% after a fiscal first-quarter beat on the top and bottom lines. For the fiscal second quarter, the company saw growth of 4% in preliminary consolidated same-store sales.

Persons: Russell Hutchinson, LSEG, Piper Sandler, Hewlett Packard, Rubrik, FactSet, Patterson, Gary Kelly, Bob Jordan, Alibaba, Daniel Pinto, — CNBC's Brian Evans, Samantha Subin, Lisa Kailai Han, Jesse Pound, Michelle Fox Organizations: Ally, Mission, Calavo, Calavo Growers, Oracle —, Oracle, Amazon Web Services, Hewlett Packard Enterprise, Hewlett, Juniper Networks, UTI, Southwest Airlines —, Elliott Investment Management, Hong, Reuters, JPMorgan Locations: U.S, Alibaba —, China, Hong Kong, Shanghai, Shenzhen

A Southwest Airlines plane takes off from Hollywood Burbank Airport above other Southwest planes on July 25, 2024 in Burbank, California. Southwest Airlines said Tuesday that executive chairman and former CEO Gary Kelly will retire next year and announced a board shakeup, moves that come as the carrier faces pressure for changes by activist investor Elliott Investment Management. Elliott in June revealed a nearly $2 billion stake in Southwest, seeking to oust leadership, including CEO Bob Jordan, who has also spent nearly four decades at the carrier. Southwest has also brought in outside experts, including Bob Fornaro, former CEO of Spirit Airlines and AirTran, which Southwest acquired. Southwest has an investor day scheduled for Sept. 26 in Dallas to expand on these and other initiatives.

Persons: Gary Kelly, Kelly, Herb Kelleher, Elliott, Bob Jordan, Bob Fornaro Organizations: Southwest Airlines, Elliott Investment Management, Southwest, Dallas, Texas, Spirit Airlines, Boeing, U.S Locations: Hollywood, Burbank , California, Southwest, Dallas

☆ Starbucks is betting big that Chipotle's CEO can make it special again. He'll have his work cut out for him.
▼ + stars: | 2024-08-13 | by ( Alex Bitter | ) www.businessinsider.com time to read: +5 min

Laxman Narasimhan, Starbucks' current CEO, will step down effective immediately from his roles as CEO and a member of Starbucks' board of directors, the company said. In his tenure at Chipotle, Niccol made several changes. He also oversaw an expansion of Chipotle's online-ordering options just before delivery and pickup became essential to the restaurant business early in the pandemic. The road ahead at StarbucksAt Starbucks, Niccol will face some challenges similar to those he took on at Chipotle. AdvertisementStarbucks sales have also fallen lately in China, which is home to nearly one-fifth of all the chain's stores.

Persons: —, Brian Niccol, Niccol, Laxman Narasimhan, Elliott, Chipotle, Brian, Melody Hobson, Peter Saleh, Saleh Organizations: Service, Starbucks, Business, Street, Elliott Investment Management, Taco Bell's, Wall Street, Analytical Research Locations: Chipotle, Denver, Orange County , California, China

☆ Starbucks’ CEO is out. Chipotle’s Brian Niccol is taking over
▼ + stars: | 2024-08-13 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Starbucks CEO Laxman Narasimhan is stepping down immediately after just a year in the role, the company announced Tuesday. The struggling coffee chain has tapped Chipotle CEO Brian Niccol to be its new chairman and CEO, effective September 9. Starbucks’ stock soared more than 13% in premarket trading, while Chipotle’s dipped 8%. Chipotle CEO Brian Niccol is leaving the chain for Starbucks. From ChipotleStarbucks’ struggles reflect consumer fatigue with high prices at food chains, restaurants and stores after years of price hikes.

Persons: Laxman Narasimhan, Brian Niccol, Niccol, “ Brian, ”, Mellody Hobson, ” Narasimhan, Laxman, ” Hobson, Neil Saunders, ” Saunders, Saunders, Narasimhan’s, Howard Schultz, ” Schultz Organizations: New, New York CNN, Starbucks, Elliott Investment Management, GlobalData, Wall Street Locations: New York, Mexican, North America

☆ Southwest is ditching its unassigned seat policy for the first time
▼ + stars: | 2024-07-25 | by ( Nora Redmond | ) www.businessinsider.com time to read: +1 min

Southwest Airlines has had an unassigned seating policy for over 50 years. The carriers now plans to assign seats on all flights and offer premium seating options. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Instead, it will start assigning seats before all flights and offering premium seating options.

Persons: — Organizations: Southwest Airlines, Elliott Investment Management, Service, Business

☆ Southwest profit falls 46% as airline takes 'urgent' steps to increase revenue
▼ + stars: | 2024-07-25 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

Southwest Airlines airplanes are serviced at their gates at Fort Lauderdale-Hollywood International Airport on May 18, 2024, in Fort Lauderdale, Florida. Shares of Southwest fell 4% in premarket trading Thursday. Revenue per available seat mile, a gauge of airline pricing power, fell 3.8%, roughly in line with Southwest's reduced forecast last month. Southwest reported adjusted per-share earnings of 58 cents a share, above analysts' expectations. The airline is in the middle of an overhaul as pressure mounts from investors to do more increase revenue.

Persons: Bob Jordan, Jordan Organizations: Southwest Airlines, Hollywood International Airport, Southwest, Boeing, Elliott Investment Management, Delta Air Lines, United Airlines Locations: Fort Lauderdale, Fort Lauderdale , Florida, U.S

☆ Southwest to get rid of open seating, offer extra legroom in biggest shift in its history
▼ + stars: | 2024-07-25 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

Southwest Airlines is ending open seating and will offer extra legroom seats on its airplanes as mounting pressure on the carrier to increase revenue prompts the biggest changes to its business model in its 53 years of flying. The airline plans to start selling the first flights that will offer extra legroom next year, it said Thursday. When travelers choose a competitor over Southwest, the airline found in its research that its open seating model was the No. Rival carriers offer a host of options to upsell customers like extra legroom seats, premium economy or business class. Southwest will provide more details about the upcoming changes at an investor day at the end of September.

Persons: they'll, Bob Jordan, Jordan Organizations: Southwest, Southwest Airlines, Elliott Investment Management, Boeing, Federal Aviation Administration, Analysts Locations: Dallas, Delta, United

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