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Southwest Airlines is ending its decades-old policy of allowing free checked bags and launching a basic economy ticket that doesn't allow for free changes. This is a major shift from its previous customer-centric approach and could lead to decreased customer satisfaction.

The changes are a result of pressure from Elliott Investment Management, suggesting a prioritization of profit over customer experience.

Southwest Airlines expects to generate $300 million in revenue from the new baggage fees.

The new policies will affect all travelers except those with Business Select fares or A-List Preferred status.

Southwest Airlines plans to speed up retrofits of its Boeing 737-800s and Max aircraft to include larger overhead bins to accommodate increased carry-on luggage.

Elliott Investment Management pressured Southwest Airlines to implement the changes, prioritizing profit over customer satisfaction.

Travelers will have to pay for checked bags, potentially increasing the cost of air travel.

Longer airport lines are anticipated due to the new baggage policies.

Travelers can still bring a carry-on bag for free.

Southwest employees will be equipped with mobile printers to handle the new baggage policies.