While your experience is more anecdotal than statistical evidence - it was never overcapacity and therefore fear of increasing prices and losing market share that was the problem.

In the last year costs shot up significantly for ATF, $ rate etc. All of which have had a huge impact on IbA costs. However, because of 6E none of the other carriers (except AI who don't really care about anything including competition, fuel costs and exchange rates) dared to increase their ticket prices fearing they would lose out even more to 6E. 6E had enough cash in it's war chest to bleed the others dry and out of the competition.

Everybody made huge losses in the last few quarters... yet ticket prices remained the same. Obviously there are going to be plenty of causalities in this kind of game.