{
  "docId": "019dd923-622b-71dc-a6dc-3b6d17d91123",
  "docSlug": "7848c04aef2c",
  "documentTitle": "Southwest Airlines (LUV)",
  "authorId": "14_Icahn",
  "authorName": "John Pike and Bobby Xu",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2024-06-10 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 16,
  "pageCount": 78,
  "prevPage": 15,
  "nextPage": 17,
  "slideType": "executive_summary",
  "function": "establish_context",
  "density": "dense",
  "nDataPoints": 2,
  "notes": "The slide uses a four-column layout to categorize research methodologies.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "icon_grid",
    "callout_box"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6dc-3b6d17d91123/16",
  "deckHref": "/decks/019dd923-622b-71dc-a6dc-3b6d17d91123",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6dc-3b6d17d91123.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-3b6d17d91123#slide-16",
  "components": [
    {
      "bbox": {
        "h": 0.1,
        "w": 0.9,
        "x": 0.05,
        "y": 0.75
      },
      "kind": "callout",
      "text": "After 18 months of extensive research, Elliott is pleased to share its perspectives on Southwest's performance and the steps needed to create a stronger company going forward",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b8699a4c-1069-4b83-b9a6-9edad2b8e0d0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "After 18 months of extensive research, Elliott is pleased to share its perspectives on Southwest’s performance and the steps needed to create a stronger company going forward",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-0f1e-7015-902a-ded195337a88",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.4,
        "w": 0.2,
        "x": 0.74,
        "y": 0.265
      },
      "kind": "list",
      "text": "Customer Study: We commissioned an extensive passenger airline consumer study with 2,000 respondents to understand customer preferences and drivers of customer choice for Southwest and its peers",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "340b67f0-c6bf-40f1-9a11-7cd7f5faed21",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.4,
        "w": 0.2,
        "x": 0.52,
        "y": 0.265
      },
      "kind": "list",
      "text": "Shareholder Survey: An independent third-party shareholder survey firm canvassed both Southwest's shareholders and other airline investors to understand sentiment on Southwest and its peers",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4dbe95aa-e3c9-4acb-a661-b6a53a383d60",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.4,
        "w": 0.2,
        "x": 0.08,
        "y": 0.265
      },
      "kind": "list",
      "text": "Former Employees and Industry Execs: We engaged in more than 130 conversations with former Southwest employees and other airline industry executives",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "77daf4b5-5e66-47f5-bf0b-b1c7bf4eb81b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.4,
        "w": 0.2,
        "x": 0.3,
        "y": 0.265
      },
      "kind": "list",
      "text": "Industry Advisors: Elliott has been working with leading industry advisors to help us analyze Southwest's commercial strategy, operations, organization and cost structure to identify potential revenue and efficiency opportunities",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9bcd1288-afeb-4ba2-acf9-45b146a5dc95",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.85,
        "x": 0.08,
        "y": 0.16
      },
      "kind": "paragraph",
      "text": "Elliott has sought the perspectives of industry executives and advisors to help us evaluate the Company's strategy, market position, operations and opportunities to enhance performance",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "544e3649-93ae-4d8c-ae5f-b2e1e9c91133",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.4,
        "x": 0.08,
        "y": 0.1
      },
      "kind": "title",
      "text": "Our Analysis of Southwest",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bbeb7061-a96d-4996-902d-838016182f38",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Executive summary",
      "slug": "executive-summary",
      "agent": null,
      "layer": "slide",
      "matchId": "3e43b036-c14a-477e-a17b-4077fea5da80",
      "evidence": "This slide provides a detailed analysis of Southwest, including research and perspectives from industry experts.",
      "confidence": 0.7
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 20,
      "from": 1,
      "beatId": "3e9973c2-b847-49aa-bb05-8903c6e1c447",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Problem",
      "beatSlug": "problem-agitate-solution-problem-identify-pain",
      "evidence": "The document highlights Southwest's underperformance and leadership issues",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": "Complication",
      "parentBeatSlug": "complication"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}