OT slightly, but I wonder how long it will be before we return to those rather unpalatable fares that were the norm nearly 2 decades ago. Qantas ruled the southern sky and SYD-LAX return airfares averaged $2500 per person on a good day.
Then V-Australia entered the field and the game changed.
I can't help but think that low fare wars are all very nice for the passenger, but relative to our population - truly unsustainable over a long term.
But there are numerous competitors, not just VA head-to-head with QF - nonstop or one stop - on the SYD - LAX route.
AA, CX, DL, FJ, HA, NZ, PR , SQ and UA are some. QF owns part of FJ (50 per cent if I recall).
Many are flying beyond at either end, such as ADL to SEA.
One doesn't have to go via LAX to reach JFK or another New York airport in one stop. SQ flies ex SIN nonstop, and PR flies to JFK nonstop from MNL. CX has three nonstops a day ex HKG. That's not an exhausitive list.
'Our population' at c.25 million is small, but our median income is very high and so is our purchasing power (perhaps under threat due to economic concerns). It's not just residents who use international airlines, but tourists in this case from USA, plus some from Canada, Mexico and Central America who travel via LAX (or SFO).
The propensity to travel worldwide is increasing as the middle class in nations like India expands.
So the pattern of international airfares declining in real terms is likely to continue.