The new Southwest director and IndiGo co-founder Rakesh Gangwal has purchased 3.6 million shares in the airline and backed its leadership.

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 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.

Director Rakesh Gangwal just bought 3.6 million Southwest shares, and says that more changes “would be counterproductive and not in the best interest of shareholders.”

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.