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.

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 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.

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.

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,

Southwest Airlines Co. (NYSE:LUV) pushed higher in premarket trading on Thursday after the airline company disclosed some insider buying action. Director Rakesh Gangwal bought 3,600,000 shares worth about $106.