I don't think lowering prices will actually spur demand, as the reduction in air travel is due more to medical and health concerns (real or not) as opposed to price sensitivity. In other words, even if SWA reduced airfares to zero dollars, it would not significantly impact the number of travelers. This article here has some interesting insight as to the plight of SWA overall. https://thepointsguy.com/news/southwest-airlines-is-betting-it-wont-need-140-737-jets-for-a-while/
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