From Indigo to Southwest: Rakesh Gangwal's Aviation Milestone

Rakesh Gangwal, co-founder of IndiGo and aviation industry veteran, has been appointed as Chairman of Southwest Airlines. Recently, he acquired shares worth USD 108 million in Southwest. He aims to steer the airline towards superior financial performance alongside CEO Bob Jordan. Previously, Gangwal announced a major donation to IIT Kanpur.

Aviation tycoon Rakesh Gangwal, known for co-founding India's largest airline, IndiGo, has been named Chairman of Southwest Airlines. His appointment comes shortly after he acquired shares worth USD 108 million in the company, marking a pivotal point in his illustrious career.

Southwest Airlines announced Gangwal's appointment following a resolution with Elliott Investment Management, a major shareholder advocating for substantial changes. Sharing his vision, Gangwal emphasized the board's collective task to collaborate effectively with CEO Bob Jordan to rejuvenate the airline's financial health.

Gangwal's distinguished career, with stints at United Airlines and US Airways, underlines his expertise. An alumnus of IIT Kanpur and Wharton School, Gangwal has also contributed generously to educational initiatives, reflecting his dedication to both business and societal growth.

(With inputs from agencies.)