Will SWA commit a similar grand corporate blunder?
As for the "coveted business traveler", I was a 75000-100000 mile a year guy (platinum on Continental) for one reason only, first class upgrades. No first class, no bookie ticket. So it's not about assigned seating. In fact, a previous commenter noted booking last minute (as many business travelers do) puts you at a disadvantage with traditional carriers unless you have a high elite level (once again, angling for a first class upgrade.)
Now that I'm self-employed and travel half as much, I book SWA 90% of the time. If you go to assigned seating, I might as well go silver elite on another carrier and get some first class upgrades now and then.
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