In response to increased pressure from activist investors and declining profits, Southwest Airlines has unveiled a comprehensive transformation plan that includes raising its summer revenue forecast and implementing a $2.5 billion share buyback. The airline's strategy entails the introduction of assigned seating and a premium cabin by 2025, while phasing out its open seating policy by 2026. Significant reductions in service and staffing at Atlanta's Hartsfield-Jackson International Airport are also in the works, with plans to cut a third of its flights there and eliminate 15 destinations while adding new routes to Nashville. These moves come amid heightened scrutiny from investors and unions expressing discontent over job losses and service cuts. The airline aims to enhance profitability while retaining its policy of free checked bags. As Southwest prepares to navigate these changes, the focus remains on improving operations and boosting profitability without losing its distinctive brand identity.