Just like I mentioned in yesterday's blog post, I thought American Airlines would announce a reduction in prices due to the perceived negativity of the bankruptcy filing.  Lo and behold, look what Travelocity is offering:

American Airlines' Europe Airfare Sale starting at $468+ Round-Trip with Travelocity! Ends 12/8.

The above is not valid for a blackout during the week of Christmas, but it is good for travel through April 1, 2012.

We will probably see other airlines follow suit as that industry is very much a copy-cat industry.  I have not seen Alitalia, Italy's flagship carrier, announce any specials as of yet, but I bet they will this weekend.  Check back on this site to see if they do.