While Southwest’s profit and revenue fell, the airline noted that domestic leisure demand was starting to stabilize.

Going forward, even more changes are on the horizon. On Thursday, Southwest shared a revamp to its Rapid Rewards Credit Cards. Those adjustments involve new perks that are effective immediately, but come with a cost. Each of the five credit cards will have a spike in annual fees .

Starting July 24, 2025, Chase and Southwest Airlines are rolling out a series of significant changes to the Southwest Rapid Rewards® credit cards—part of a broader effort to align the credit card experience with Southwest’s evolving customer journey.