What's Going On With Southwest Airlines Stock Premarket Wednesday?

Southwest Airlines Co. (NYSE:LUV) shares are trading slightly higher premarket Wednesday. The company stated that it closed out summer travel with zero cancellations on Labor Day, marking another peak season of reliable operations.

The airline delivered strong service during the final summer travel weekend, connecting over 1.8 million customers on 14,500 flights with a 99.9% completion rate.

For the entire summer period, the airline carried a record 54 million customers on over 414,000 flights, with improved on-time performance and a 99.3% completion factor.

In July, Southwest Airlines reported a quarterly revenue increase of 4.5% year-over-year, driven by passengers and ancillary revenue.

Recently, Elliott Investment Management, which holds roughly an 11% economic stake in Southwest Airlines, disclosed its plan to nominate ten independent and highly qualified candidates for the airline's Board of Directors.

Elliott Investment has previously advocated for three critical actions to restore Southwest Airlines' position —reconstituting the Board, installing new leadership, and conducting a comprehensive business review.

Investors can gain exposure to the stock via U.S. Global Jets ETF (NYSE:JETS) and Themes Airlines ETF (NASDAQ:AIRL).

Price Action: LUV shares are up 0.24% at $29.65 at the last check Wednesday.

Image by Around the World Photos via Shutterstock

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.