Yes, but it's big numbers game across the board, for example your typical.Long Haul twin can cost $30,000 an hour to fly, and A380 pushing maybe $50,000 an hour.
..so yes the profits look massive but to gain perspective you need to divide profit (after tax) by passengers conveyed ....that typically works out at around £5 to £10 per passenger carried over the reporting period...
There simply isn't the headroom for the airlines to cut much off fares and charges without going into the red.
Also bear in mind many airlines are still recovering financially from the Covid years, and no doubt tucking some of that profit away in the bank for the next downturn - and there will be one.
Economy Longhaul is still, generally very very good value.