I think large segments of the economy will take years to recover, and with it a lot of leisure travel demand is going to just evaporate. People were still traveling in 2008 but by 2009 belts were tightening.
It will come down to the amount of lift that the airlines are forced to fly. If that exceeds demand, ticket prices will be low.
I mean, leased planes have to fly if the lessor won't take them back, because otherwise it's just burning cash. Owned planes can be grounded or stored. Outstanding deliveries can potentially be deferred (not sure about the 737 MAX deliveries that are on hold).