Southwest is under pressure from an activist investor after it lagged competitors.
The carrier plans to start assigning seats and offering an extra-legroom product to increase sales.Southwest Airlines airplanes are serviced at their gates at Fort Lauderdale-Hollywood International Airport on May 18, 2024, in Fort Lauderdale, Florida.on Thursday forecast a potential drop in unit revenue for the third quarter as an oversupplied U.S.
The airline is in the middle of an overhaul as pressure mounts from investors to do more increase revenue. Elliott Investment Management disclosed a nearly $2 billion stake in the carrier last month and called for a leadership change.and offer some seats on its Boeing aircraft that have extra legroom and add overnight flights, the biggest changes to its business model in its more than five decades of flying.
"We are taking urgent and deliberate steps to mitigate near-term revenue challenges and implement longer-term transformational initiatives that are designed to drive meaningful top and bottom-line growth," Jordan said.How Delta made itself America's luxury airline — and what United wants to do about it
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