As a young person, I have never experienced the airline industry in any other way, but have heard that once upon a time in the 'golden age', airfares were regulated and fixed (in the USA at least, not sure about here in Australia), but also too expensive for the average traveller, and deregulation, and with it, inconsistent pricing has enabled people who once could not afford it, to take to the skies, sounds great right? well yes, but this has also allowed for price gouging, just read these articles:
- https://www.google.com.au/amp/s/amp.the ... tml?espv=1
http://www.news.com.au/travel/travel-ad ... 0e250e2d2a
http://www.news.com.au/national/queensl ... b565bee05b
So my question is could fixed airfares through regulation be introduced once again without the early problem of flying being reserved for the wealthy thanks to flying being made cheaper by lower costs of oil, more fuel efficient planes, and cramming more people into a plane than it was originally designed for (10 abreast 777, 9 abreast 787, etc)
And even if regulation would not be viable once again, would it possible for a single airline to have fixed airfares to be reasonably profitable using a 'no thrills' model? There would be no issue filling the seats in peak, filling them off peak might be a little more difficult if legacy airlines want to lower the prices to match a LCC's (Low Cost Carrier) prices.