It's peak season but air tickets are going cheap, thanks to price war

Will airlines fighting a bitter price war even in the peak festival season suffer the same fate as telcos where a similar battle has led to closures and a consolidation of the industry?  

The closure of Jet Airways was the first signal that consolidation was underway in a market with eight players in the fray. 

Many analysts had hoped that, with less competition, airlines would regain their pricing power and air fares would move northwards. But that expectation seems to have been short lived.

In October, the festival season when demand is at its peak, air fares for metro routes on an average