Rakesh Gangwal, co-founder of India’s leading airline IndiGo, invested over $100 million in Southwest Airlines, a US carrier in which he is currently a director. Gangwal made the investment to acquire 3.6 million shares in the Texas-based airline.

In a series of transactions disclosed over seven filings, Gangwal acquired 3.6 million of the carrier’s common shares for roughly $29 apiece.

Rakesh Gangwal, co-founder of IndiGo, purchased $100 million worth of Southwest shares, between $29 and $30 each, following a trading window opening.

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 $100 million in stock and said on Wednesday more top level leadership changes would be "counterproductive.

Southwest Airlines (LUV) stock rises in premarket trading as insider Rakesh Gangwal buys $106.7 million worth of shares, showing support for

Southwest Airlines Co. shares are climbing after board member and billionaire co-founder of InterGlobe Aviation Ltd., Rakesh Gangwal, purchased about $107 million worth of the company’s stock, according to Securities and Exchange Commission filings on Thursday.

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 Co. shares rose more than 3 per cent after board member and billionaire co-founder of InterGlobe Aviation (IndiGo), Rakesh Gangwal, purchased around $108 million worth of the company’s shares.

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,