I have said before that every company is trying to claw back income lost to Covid - One Pound at a time. Be they restaurants or airlines or any discretionary spending.
Secondly, over the last 23 years numerous UK companies have moved steadily towards the pricing model of a well known airline that does not operate out of LHR. The Brits have made it clear that they want the headline price to be low - thus everyone follows that route. As BA will tell you.