Was just reading an article about Pink Floyd's The Wall from 1979. Why is that relevant? Because amongst the trivia it stated that a flight from Indianapolis to Miami cost $279 in in 1979. I am currently looking at airfare from Indianapolis to Miami and it is about $350 - I can beat the $279 by flying to Fort Lauderdale.
Why has airfare not risen along with salaries? Because we use Kayak and Priceline to find the best fares, because SouthWest and JetBlue will get you there cheaper. So there only recourse to try to survive is by cramming more people into less space and by adding fees for every conceivable item.
Remember PanAm, Eastern, TWA, Ozark and a host of others?