TBM Staff - Mumbai
IndiGo co-founder Rakesh Gangwal has been appointed as Chairman of Southwest Airlines, marking a significant milestone in his extensive aviation career. Gangwal joined Southwest’s board in July and recently acquired shares worth USD 108 million, solidifying his investment and commitment to the American carrier. His appointment follows a recent resolution between Southwest and Elliott Investment Management, one of its major shareholders pushing for operational changes.
Gangwal emphasised that Southwest’s renewed focus will be on strengthening financial performance. With a background that includes senior roles at United Airlines, U.S. Airways, and Worldspan Technologies, Gangwal brings decades of experience to Southwest. An IIT Kanpur and Wharton alum, he has previously co-founded IndiGo, India’s largest airline, although he began reducing his stake in InterGlobe Aviation, IndiGo’s parent company, following a public fallout with co-founder Rahul Bhatia.
Recently, Gangwal and his family trust sold over 5.83% of their stake in InterGlobe Aviation, reducing their combined holding to 13.55%. This shift allows Gangwal to focus more on his involvement with Southwest Airlines, where he aims to bring transformative leadership as the company navigates evolving challenges and growth opportunities in the airline industry.
