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  "docSlug": "7848c04aef2c",
  "documentTitle": "Southwest Airlines (LUV)",
  "authorId": "14_Icahn",
  "authorName": "John Pike and Bobby Xu",
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  "presentationDate": "2024-06-10 00:00:00",
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      "text": "Restoration of Best-in-Class Margins: 11% to 19% (+800 basis points)",
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      "text": "Commercial Strategy; Unit Cost Performance; Network Performance and Optimization; Capital Allocation and Fleet Plans; Technology",
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      "text": "A new board-level committee, assisted by independent advisors, will lead a comprehensive business review to modernize Southwest and restore best-in-class profitability",
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      "text": "Source: Bloomberg as of 6/7/2024, Elliott analysis and estimates. (1) Status quo margins reflect consensus estimates.",
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      "text": "OUTPUT OF REVIEW: Improved Unit Revenue, Lower Unit Costs, Best-in-Class Profitability, Substantial FCF Generation",
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