Southwest Airlines released its second quarter financial results on Wednesday, revealing how making some big changes in the airline is going over with customers. But the report quashed any talk that eliminating its "bags fly free" policy weakened the Dallas carrier's business.

Southwest's CEO said if the airline had baggage fees at the beginning of the year, they would have led to $1 billion in profit.

Southwest Airline's seating policy isn't the only thing that's changing; the airline and Chase announced updates to the Southwest Rapid Rewards credit cards — adding enhanced benefits like pre-flight seat selection and early boarding,