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 ...

Gangwal, a co-founder of InterGlobe Aviation, acquired 3.6 million Southwest shares between September 30 and October 1, according to filings with the Securities and Exchange Commission.

Indian billionaire Rakesh Gangwal raised 115.6 billion rupees ($1.4 billion) selling a stake in the parent of IndiGo, as he continues to retreat from the airline he co-founded almost two decades ago.

Rakesh Gangwal is Southwest Airlines' new board chair, effective immediately. FIREWORKS AND MORE Find where to celebrate the 4th of July this week. Skip to Main Content Skip to footer.

Southwest Airlines on Monday named aviation industry veteran Rakesh Gangwal as the independent chair to its board, days after the budget carrier settled its feud with activist investor Elliott.

The billionaire co-founder of IndiGo, Rakesh Gangwal, sold nearly $1.3 billion worth of shares in the airline’s operator InterGlobe Aviation Ltd. a day after they closed at a record high.

Gangwal will serve as independent chair and replaces Gary Kelly, former Southwest CEO, who agreed to retire early from his role as chair as part of a corporate agreement with an activist investor.

Gangwal, a co-founder of InterGlobe Aviation, acquired 3.6 million Southwest shares between September 30 and October 1, according to filings with the Securities and Exchange Commission.

Gangwal, an American, has spent several years in senior roles at United Airlines and U.S. Airways. He resigned from the board of Indigo's parent InterGlobe Aviation in 2022.