The move, including service enhancements and share buybacks, came after the hedge fund Elliott Management called for cost savings and better profits.

The changes come two days after Elliott threatened to call a special meeting as it tries to push CEO Bob Jordan out.

Southwest Airlines on Thursday unveiled a slew of initiatives to turn around its struggling business, including partnerships, vacation packages for customers and sale-leaseback transactions for aircraft.

Southwest Airlines presented a thorough transformation plan, but failed to impress main shareholder and most vocal critic of current management

The airline’s first flights with assigned seats are scheduled to take off in 2026, among a series of radical changes Southwest is making to its model.