Because of severe competition among airlines many airlines in the past had reduced their airfares drastically. There has always been fare-war among domestic and international carriers and customers have been the winner. Many small budget and no-frill airlines also cropped up and in fact doing very fine and giving hard time to major airlines.
In U.S.A southwest airlines and Jet Blue have been the kind of forerunners for cheap air fare and better customer service both on ground and up in the air. Their on-time performance and customer care has won many customers to switch to them. Similarly in Europe Ryan Air has been running successfully with its low airfare tickets to many destinations in Europe.
One has to really search and compare cheap air fare on all the airlines operating on the routes to any destination. You know never which airline is offering great travel deals. Internet is the best place browse through various options.
Although these cheap fares that have devastated the major airlines are unlikely to rise anytime soon but this trend could also mean continued struggles for the troubled industry. The bargain airfares combined with high fuel prices have hurt the big and small carriers besides the drop in passenger traffic in low U.S economy for the last few years. Many airlines have laid off many thousands employees to trim down the cost and also often sought federal assistance to stay in business.
However, whatever the reasons may be the travel industry can not go out of business and it is in the interest of any country to let them continue flying no matter what, after all so many other businesses depend upon them. So cheap tickets will always be available for travelers to enjoy. Always be flexible with your travel dates, seek alternate airports departures and arrivals, buy in advance and with little time spent online searching for cheap flights one is sure to find cheap air fare.