The question is whether we feel air travel is as essential to everyday life as busses and trains are.

In other words, do we need to make sure everyone can afford to take a flight somewhere?

Or is air travel a luxury that we can allow the market to set a price for?

Maybe flights are simply too cheap, and we should just allow airlines to fail, which will limit supply enough to bring ticket prices back up to a level that is sustainable for airlines as a business.

Of course, this means that a lot of people are going to be priced out of being able to fly places for non-essential reasons. Which, given the environmental impact, might not be a bad thing, although it will make life very different for most people.