Southwest will debut a new Basic fare on May 28|Jonathan Cutrer|CC BY-NC 2.0

Budget-friendly Southwest Airlines is ending its half-century-old policy of two free checked baggage on Tuesday. Starting Wednesday, the airline will charge customers $35 for one checked bag and $45 for a second, reports the Wall Street Journal.

The new baggage policy does not apply to tickets already purchased or to flyers who hold the airline’s credit card or have elite status.

The new fee structure aligns with major carriers like Delta Air Lines, American Airlines and United Airlines.

It marks the end of an iconic feature that defined flying with Southwest. It held out even as rivals raked in $7.3 billion from baggage fees last year, but activist investor pressure from Elliott Investment Management has pushed the airline to monetize more aggressively.

In addition to baggage fees, Southwest is eliminating its open seating system and will introduce extra legroom later this year, which will come at an additional cost.

Not just baggage fees
Southwest will also debut a new Basic fare on May 28, replacing its lowest-tier Wanna Get Away option. The new fare comes with no changes allowed, no seat selection, and a flight credit that expires in six months.

CEO Bob Jordan says bookings have not declined despite widespread customer backlash since the airline announced the policy change in early March.