Southwest Airlines sends a letter of love and astounding admissions to its frequent travelers

Talk about startling developments. It looks as if that big brand makeover Dallas-based Southwest Airlines (NYSE: LUV) announced last month is about a lot more than a paint job and the "heart" you'll find on display among the airline's tens of thousands of rank-and-file employees.

Turns out that heart (or "luv" in Southwest parlance) extends all the way to the top ranks of Southwest's executive suite, who now appear to be in a real tell-it-like-it-is frame of mind.

What a Southwest spokesman described as some of the airlines "most engaged" customers have begun receiving a letter from Teresa Laraba, Southwest's senior vice president for customers, that is surprisingly blunt about Southwest's disappointing (some might say abysmal) on-time performance for much of the past year.

The letter also is emphatic in regards to what the airline is doing about the issue.

Laraba began her letter noting some enhancements the carrier has introduced, including onboard Wi-FI, larger Boeing 737-800 model airplanes and the revamped Rapid Rewards loyalty program.

But Laraba quickly moved from those opening appetizers to the real nut of her letter. Larada wrote: "We know the operating environment has been difficult, and Southwest's on-time reliability has oftentimes suffered as a result."

Yea, talk about a frank admission.

Larada then went on to say that "we know this impacted you and, as a result, we have a laser focus on improving to ensure your continued loyalty."

That could be interpreted to mean some of Southwest's high-margin business travelers, for whom on-time performance actually means something, may have been on the verge of defecting, and the airline figured it better level with them.