Southwest Airlines Director Rakesh Gangwal, who was picked by the company to join its board amid growing pressure from an activist investor, bought more than $100m in stock and said on Wednesday more top level leadership changes would be "counterproductive." Gangwal, who co-founded low-cost Indian carrier InterGlobe Aviation, or IndiGo, purchased 3.6m Southwest shares on September 30 and October 1 according to Securities and Exchange Commission filings. He paid between $29 and $30 a share. He said he made the purchases as soon as the so-called trading window when directors and other insiders are permitted to buy and sell the stock opened. Southwest put Gangwal on the board in July as activist investor Elliott Investment Management increased pressure on the carrier, demanding leadership and strategy changes to improve financial performance. The company last month announced a board overhaul and other changes. Last month Southwest said executive chairman Gary Kelly will step down and six other directors will retire from its 15-member board. Elliott has held firm to demands for more changes in the top ranks, including the ouster of CEO Bob Jordan. Last week it said it plans to request a special shareholder meeting to press for those changes.<br/>
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El Al is waiving change and cancellation fees due to escalated fighting with Hezbollah and expected further escalations with Iran. El Al customers who purchased a ticket Oct. 1 for a flight scheduled to depart by Oct. 19 may cancel their ticket without a fee and receive a voucher that can be redeemed until Dec. 31. In addition, the carrier has waived change fees if rescheduled flights travel to the original destination in the same service class, though fare differences will apply. El Al typically charges change and cancellations fees for holders of Classic economy tickets, with the amount of fee varying by the ticket. Flights were suspended Tuesday to and from Ben Gurion Airport in Tel Aviv as Iran fired ballistic missiles into Israel, but flights have since resumed.<br/>
Lessor AerCap has entered into lease agreements with Azerbaijan Airlines for six Airbus A320neo family jets. The six aircraft, three A320neos and three A321neos, are scheduled for delivery in 2026, says AerCap. “The signing of these six leases significantly expands our fleet replacement, in particular with the popular A321neo, says Azerbaijan Airlines president Samir Rzayev.” “These aircraft are intended to meet the evolving needs of our passengers, providing them with maximum comfort and convenience, while also contributing to the expansion of our airline’s route network. We aim to create better travel opportunities and meet customer expectations by opening new destinations and improving service quality.” Cirium fleets data shows that Azerbaijan Airlines has an in-service fleet of 29 aircraft. Its narrowbody fleet comprises 15 A320/A320neo family jets, as well as a single Boeing 757-200.<br/>
Cebu Pacific has signed the purchase agreement for up to 152 Airbus narrowbodies, firming up a record deal it first disclosed in July. The deal, valued at over $24m at list prices, comprises 102 firm orders for Pratt & Whitney PW1100G-powered A321neos and another 50 options for A320neo-family aircraft. Airline CE Mike Szucs says Cebu Pacific will make a “minimum commitment” of 70 A321neos, the first of which will be delivered to the airline from 2029. Half of the new aircraft will be for fleet growth, with the other half are replacements, says Szucs, who announced the order at a ceremony in Manila. Cebu Pacific also “has the flexibility” to take delivery of new A321neos before 2029 should the need arise, which will come from the remaining 32 firm orders, adds Szucs. The low-cost operator is an existing A321neo operator, with 13 examples in its fleet and another 17 on order, which will be delivered over the next three years. It also operates earlier-generation A320s and A321s, as well as A330s widebodies. Cebu Pacific first signed a memorandum of understanding (MoU) for the order in July this year. It then held a ceremony at the Farnborough air show in late July to mark the signing of the MoU. <br/>