Herb Kelleher was the co-founder and then the CEO of Southwest Airlines for 20 years, ending in 2001 – although he stayed on as chairman until 2007. While that was a while ago now, it’s when Southwest’s DNA as a company really was formed.

Southwest also has embarked on a three-year plan to evolve its offerings, including introducing assigned seating—another first for the carrier—and the creation of an extended legroom product, both of which are designed to bolster the carrier’s revenue.

Southwest Airlines plans to cut 1,750 jobs or 15 percent of its corporate workforce, in the US carrier's first company-wide layoffs in its 54-year history. The Dallas-based airline said Monday that the job cuts would be focused almost entirely on “corporate overhead and leadership positions,