Southwest Airlines plans to drop its tradition of more than 50 years and start assigning seats and selling premium seating for customers who want more legroom. The airline said Thursday that it has been studying seating options and is making the changes because passenger preferences have shifted. The moves could also generate revenue and boost financial performance. Southwest made the announcement on the same day that both it and American Airlines reported a steep drop in second-quarter profit despite higher revenue. Airlines are struggling with higher costs and reduced pricing power, especially on flights within the United States, as the industry adds flights faster than the growth in travel demand. Southwest, based in Dallas, said its second-quarter profit fell 46% from a year earlier, to $367 million, as higher costs for labor, fuel and other expenses outstripped an increase in revenue.
Similar Stories to Southwest Breaks With 50-year Tradition And Will Assign Seats; Profit Falls At Southwest, American on Bing News
The Associated Press, Denver Post: Business
Thu, 07/25/2024 - 5:40am
Topics: united states dallas american airlines july-through-september ceo robert isom southwest s related articles flight dia denver international airport sunday frontier airlines thunderstorms feb las vegas orlando los angeles nashville elliott investment management ceo robert jordan chairman gary kelly september shares southwest airlines co airlines group inc jetblue airlines southwest airlines southwest airlines american it united wall street delta denver international airport baltimore assign seats customers time seating redeye higher fell revenue boarding drop expectations plans delays travelers second-quarter passenger reported outage costs performance financial thursday million strategy plane extra business call passengers
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