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The thing to realize about the historical performance of the airline industry as a whole is that it is currently sitting at a net loss. It's in the hole. It's a money-loser.
Fares aren't the only thing that's out of the ordinary about airliners. Also consider the regulations about safety, security, and airspace, etc. These are also things that stand out as a mode of transportation.
The fares aren't consistent (I'm guessing) because air travel itself isn't consistent. At least taxis, public transit, trains, etc., can predict with some accuracy the travel patterns of customers. Airliners I don't think have a good time of doing this, and so their tickets are sold practically like an auction. It's more of a real-time market: supply and demand will dictate the price, and supply and demand is constantly shifting. Airliners are constantly managing their flights and seats in such a way to ensure the fullest possible capacities while doing their best to make money (which, as I've hinted, is damned difficult for them).
Also realize how they're affected by fluctuating fuel prices, as they use a heck of a lot of it.
And realize that jets are only made with government support, and few are ever purchased...merely leased.
There are so many factors in this crazy industry that I'm not at all surprised that ticket prices work the way they do.
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Knowing that death is certain and that the time of death is uncertain, what's the most important thing?
—Bhikkhuni Pema Chödrön
Humankind cannot bear very much reality.
—From "Burnt Norton," Four Quartets (1936), T. S. Eliot
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