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How will Southwest Airlines' profit change for fiscal year 2024 compared to fiscal year 2023?
3
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Southwest Airlines' official financial reports
Story
Southwest Airlines ($LUV) to Introduce Assigned Seating, Extra Legroom, and Red-Eye Flights, Ending 50-Year Tradition
Jul 25, 2024, 11:00 AM
Southwest Airlines Co. announced a significant shift in its business model by introducing assigned seating, ending its 50-year open seating policy. The Dallas-based carrier will also offer premium seating with extra legroom and plans to introduce redeye flights. These changes aim to broaden its appeal to passengers and boost profits. The decision comes amid pressure from activist investor Elliott Management, which has been urging the company to rethink its strategy. The new seating options are expected to be available starting next year. Southwest's profit fell 46% as it takes urgent steps to increase revenue. The airline has been operating for 53 years.
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