Those cheap airfares will will get very expensive and bankrupt Airlines too. Air travel made the planet smaller. Who needs a smaller planet? I don’t.
So less air travel will make the planet bigger, and I like that. IMO artificially cheap airfares created too much wasteful vacation and business travel, and helped spread Covid all over the planet.
But, if jet fuel goes crazy high, the global anti, make America great again governments will subsidize all the airlines fuel prices to maintain globalization that screwed the USA for decades and a $28 Trillion national debt.