Rakesh Gangwal, a director at Southwest Airlines Co (NYSE:LUV), has made a significant investment in the company by acquiring 3.6 million shares, valued at over $100 million. This purchase comes amid mounting pressure from activist investor Elliott Investment Management for changes in leadership.

Southwest Airlines (LUV) just got a big endorsement of its turnaround plan — from the inside. Reuters reports that board of directors member Rakesh Gangwal, the founder of the Indian budget airline Indigo,

Elliott Investment Management L.P. (Trades, Portfolio) made a significant addition to its investment portfolio by acquiring 3,028,000 shares of Southwest Airlines Co (NYSE:LUV). This transaction, executed at a price of $29.

Director Rakesh Gangwal just bought 3.6 million Southwest shares, and says that more changes “would be counterproductive and not in the best interest of shareholders.”

Rakesh Gangwal, co-founder of IndiGo Airlines, has invested over $100 million in Southwest Airlines by purchasing 3.6 million shares, aligning his interests with the airline's shareholders. This significant investment supports Southwest Airlines' growth strategy and positions Gangwal as a key player in shaping the airline's future.

Southwest Airlines (NYSE:LUV) board member Rakesh Gangwal, appointed during increased pressure from activist investor Elliott Investment Management, recently purchased over $100 million worth of company stock,

Southwest Airlines Co. (NYSE:LUV) pushed higher in premarket trading on Thursday after the airline company disclosed some insider buying action. Director Rakesh Gangwal bought 3,600,000 shares worth about $106.