In major shift, Southwest is getting rid of open seating and will now assign seats

Southwest Airlines plans to end its open seating policy, a tradition for over 50 years, in favor of assigned seating. This decision is driven by customer demand, with surveys indicating 80% of customers prefer assigned seating. The change aligns Southwest with its competitors and aims to address a 46% drop in profits. The airline also plans to introduce premium seats with more legroom to boost revenue. The transition is expected to improve operational efficiency and attract more customers. Details of the change will be announced in September.

What economic challenges is Southwest Airlines facing that may have influenced their decision to change the seating policy?

When is Southwest Airlines planning to announce more details about the changes to the seating policy?