Southwest Airlines (NYSE: LUV) has badly underperformed its rivals so far in 2024, prompting a prominent activist to get involved.

Shares of the airline traded up 7% at the open Monday after Elliott Investment Management confirmed a $1.9 billion stake in the company.

Southwest has been flying into headwinds of late. The company's shares coming into trading Monday were flat for the year, compared to up 28% and 25% at United Airlines Holdings and Delta Air Lines, respectively.

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Source Fool.com