Yes, "F" class fare has reduced significantly during the past year or so. The greatest thing is that you can earn the bonus miles and stuff like that... but those fares are still nonrefundable and changing then required the usual change fee.
Air Tran's business class fare is actually a bit lower than this average F fare. Since FL
offers a business class product, the transcon fare is usually around $600-700RT and the fare is fully refundable. That is pretty reasonable...
However with this "F" fare reductions, some airlines have cut back F service... meals are usually served at all times, but full meals may have been replaced by snack plates during non-traditional meal time bracket. Latest example is AA
-West coast flight... all the flights between 2pm and 4pm used to have dinner service, but now it is down to those snack plates... Delta's first class meals are a major disgrace... with no chocie and some DL
F passengers often request a BOB menu from Y and buy a sandwich there. America West is also offering less than before.
Nevertheless with F fare reduction, these airlines hopefully can squeeze a few extra dollars from their decreasing yields in Y and encourage more F fare paying flyers. To be honest, I am more than happy to pay CO
$500 O/W for the transcon service once a year...