(Reuters) – Activist investor Elliott Investment Management escalated its power struggle with Southwest Airlines (LUV) on the board of directors on Tuesday, announcing it would call an extraordinary shareholders meeting as early as next week to reform the airline’s leadership.

In a letter to shareholders, the hedge fund accused the airline of hindering a change in leadership.

Elliott now owns enough Southwest stock to call a special meeting and take the next steps to restructure the board and management. In August, it announced 10 board candidates the company could nominate to the 15-member board.

Southwest did not immediately respond to a request for comment.

The airline announced this month that it would appoint four new independent directors in the near future and may include up to three candidates proposed by Elliott.

However, the company expressed its confidence in CEO Bob Jordan, saying there was “no better leader” to successfully implement the strategy of “further developing the airline and increasing sustainable shareholder value”.

Southwest has struggled to get back on its feet after the pandemic, due in part to delays in Boeing aircraft deliveries and industry-wide overcapacity in the domestic market.

To attract premium travelers, the company plans to offer fixed and extra legroom seats and introduce night flights. Details will be presented to investors on September 26.

(Reporting by Rajesh Kumar Singh in Chicago, Aishwarya Jain in Bengaluru; Editing by Shilpi Majumdar and Nick Zieminski)