Supply & Demand - what gives?
So we're told that demand for air travel is way down. Flights on many routes are wide open. We know that business travel has been devastated - which really impacts the business class cabin and premium economy internationally. Oil prices are also at a decades low.
Yet: fares from here till May are at an all-time high. What gives? What happened to the supply and demand principle?
I've also noticed (at least on international routes) that the difference between basic and flex is ridiculous, sometimes a 1k or more!
Sometimes flex is almost the same as premium economy........?
I am puzzled, anyone have any ideas as to why?