A shift away from open seating is expected to begin in the second half of next year, Southwest said. DALLAS — Southwest Airlines on Thursday unveiled the first details of its plans to begin assigning seats, update its boarding process and add new “premium” extra-legroom seats on its planes.

Southwest Airlines raised its third-quarter revenue forecast on Thursday and detailed a host of changes to its business model.

Southwest Airlines Boeing 737s will get new premium seating with extra legroom, but regular seats on 450 planes will lose an inch of legroom.

As its current leadership fights off an activist investor that want to overturn management, the airline braces for a transformation.

Southwest Airlines is planning to reduce service to and from Atlanta next year, cutting more than 300 pilot and flight attendant positions, according to a company memo seen by CNBC.

Southwest will not eliminate its Hartsfield-Jackson International Airport crew base, but said it will need less staff there to operate the set cuts.