I think airlines did themselves a huge disfavor when they continued to keep prices artifically low. Now they are in that awful situation of being stuck between a rock and a hard place. Consumers are so used ot getting a bargain that it could be suicide to raise prices but it's also suicide when you can't cover operational cost and sooner or later you run out of 'extras" to cut.
ITA here. They should have never sold tickets below cost.
I have a scrapbook where I have a plane ticket from over 30 years ago. I can do that same trip today for basically the same cost. That is not possible if the company wants to make money. Airlines can not get costs to fall like electronics.