The FFPs all pivot on a key assumption...there are a empty seats going unsold.

Pre-9/11, that seemed a reasonable assumption. But with most carriers having cut back schedules up to 30%, all of a sudden,there is much more parity between supply and demand of revenue seats...hence fewer empty seats left unsold.

If you really think about it, what business PURPOSELY would want to operate at undercapacity? The airlines are belatedly figuring this out!! I can't see any incentive in the forseeable future to significantly increase seat capacity. So, the FFPs will be the first to be short changed in this new environment.