I don't really agree with that. While the first part of your statement is true, people are equally reducing their travel. I'd be a millionaire if I had a dollar for every person that has said to me "What, you still fly? What about all those baggage fees?" Also, let's keep in mind that the capacity cutbacks haven't gone through yet, so until then we won't really notice a huge difference.

For what it's worth I've been noticing cheaper fares than ever before in the past months. Never before have I had so many mileage run opportunities during summer!^^^

So to the OP, I wouldn't expect any amazing promos but I would expect good mileage run fares as we've seen in years past.