That's a very useful website. Nice work St Louis Fed.
IDK how things are in your sphere, but in the context of where I live, I have watched overseas travel go from bougie luxury to something everyone can do over the last 20-25 years.
I am not sure if that is a result of fuel efficiency or intense competition.
Haven’t they? Domestic and long-haul flights seem much cheaper to me than ever.
Since airlines have an oligopoly, fares are not based on the cost to the airline but on the price on the supply and demand curve that yields maximum profit. In other words, the maximum price that enough people are willing to pay. If there were more competition in the market the price would be closer to the airline's actual cost.
Reduced fuel is done with an upfront investment. Which always makes me wonder, since every penny of the investment money goes to researchers, facilities and material which themselves aren’t more economic in emissions than fuel itself, then does it really save on emissions...