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Southwest Airlines and the pressure from Elliott Investment Management, the Asiana Airbus A350 that triggered a Low Altitude Alert at SFO, the Turkish KAAN fighter jet export opportunities, and the possibility that India may become an F-35 customer. Also, boomless cruise, the Philadelphia Learjet crash, and aircraft mechanic classifications.
Southwest Airlines has amended its agreement with Elliott Investment Management that allows Elliott to increase their ownership of the airline to 19.9%. Previously the cap was 14.9%. Elliott wants to make strategic and operational changes, as well as changes at the airline’s executive level and board of directors. Chief financial officer Tammy Romo is retiring April 1, 2025 and Southwest named former Breeze Airways president Tom Doxey as Romo’s replacement. Southwest announced that chief transformation officer Ryan Green would be leaving the company. Other executive positions are said to be at risk.
The airline is shrinking its board from 15 members to 13 as part of an agreement with activist investor Elliott Investment Management. Two more Southwest board members will step down in April.
Recently, Southwest announced a 15% layoff (1,750 positions), the company’s first-ever layoff, “focused almost entirely on corporate overhead and leadership positions.” Southwest said the move is expected to save the company $300 million annually.
The alert was triggered in the control tower after the Asiana plane dropped as low as 275 feet while flying at 174 knots. The pilots were notified and then performed a go-around.
The Turkish Aerospace Industries KAAN fighter is being developed with sub-contractor BAE Systems. The stealthy, twin-engine jet is planned to replace the Turkish F-16s and be exported to others. UAE has expressed interest and Saudi Arabia has a deal for 100 fighters.
Video: KAAN İLK UÇUŞUNU GERÇEKLEŞTİRDİ [KAAN trailer]