Voucher redemptions are a big factor. At MAN, Virgin and TUI are carrying high volumes of passengers who have redeemed vouchers provided in lieu of cancelled trips during covidworld. This is boosting load factors for those issuing carriers, but not providing fresh income - the original customer payments were made a long time ago. But Aer Lingus UK is a new launch operation out of MAN. Voucher redemptions must be close to negligible for them, so that means that loads rely on fresh bookings from travellers choosing to part with real cash in the very challenging contemporary environment. Cost-of-living concerns and airport horror stories combine to make customers think twice about splashing out for discretionary leisure travel right now.
As an aside, I myself made a number of air travel bookings once covid restrictions were lifted (though not Transatlantic with EI UK). I looked forward to to the return of hassle-free flying like we remember it pre-covid. Unfortunately, I have instead been lumbered with another FIVE flight cancellations, more vouchers and more interminable administrative hassle. One of the cancellations resulted in me having to pay three times the original fare with an alternative carrier. In another, I'm now in dispute with Wizz Air who failed to apply my 'Wizz Credit' to an online booking as they should have done; they are now claiming that this 'Wizz Credit' has expired and are refusing to refund it. They instead deducted the whole fare from my credit card, rather than the small balance due after application of the 'Wizz Credit'. And Wizz Air have since cancelled the new flights as well and issued new 'Wizz Credit' for them. I'm chasing up a refund for that now. All extremely annoying ... Wizz Air join the appalling Air Europa on my 'never trust this shower again' list. Sorry to ramble on, but the point is that air travel hassle is still very much an issue in the post-covid environment. I'm wary of booking any flights well in advance of departure date now, and if I am reluctant, you can be certain that those who tolerate rather than love air travel will be in no rush to subject themselves to this kind of thing either. Right now, air travel is a really tough sell for those who don't have expiring travel vouchers to use up before a deadline.