...just think about this (via the NYT):
Three of the nation's main network carriers said Wednesday that they posted profits in the third quarter, thanks to higher ticket prices and a rebound in air travel.
The airlines are benefiting from a pickup in demand and a planned reduction in supply (they call it "capacity discipline"). They're also being helped by all those extra fees for checked baggage, roomier seats, and the like.
By the way: I came across a 1961 American Airlines advertorial that ran in the LAT and trumpeted a new era in airline service. This was soon after jet aircraft were introduced at LAX, and the orientation towards service shows you how much the industry has changed in the last 50 or so years. Here's a snippet about airline meals (note the masculine-directed references):
Today's traveler has a sophisticated appetite and meals are planned to please his eye as well as his palate. The American passenger can delight daily to such specialties as Chicken Kiev, Tenderloin of Beef, Crepes Crab Bengel. Since variety, as well as gourmet-quality, is the spice of American's food service, he will be served a variety of over 70 menus in the course of his travels - each with many extra touches in preparation and service he finds only on American Airlines.