Southwest Sees Major Dip in Profits as It Vows to Make ‘Urgent’ Changes
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Southwest’s profits decreased by 46% as it looks to make changes to its business model to boost its bottom line.
Southwest reported a major decline in its profits for the second quarter as it announced that it will roll out premium seating in a bid to boost its declining revenues.
The carrier had a net income of $367 million for the quarter, around a 46% decrease compared to the same time last year. Its revenues, however, were a record for the quarter a
