Its very hard to get a flt at present and yes fares have been low.Try getting back from the usa of late.
I would guess that a large portion of the seats were sold when things looked very grim quite some months ago.
hard to put up fare on seats sold already.
Airline costs are reasonably fixed if fuel is hedged.
For example...
If you make a dollar profit per fare and then if you put your fare up by a dollar you double your profit.
Simplistic but it indicates how susceptible airline profits can be to seemingly small movements.It of course cuts both ways.