"As we all know, we can't escape the fundamental laws of economics," he said. "Increased prices could result in decreased demand, and that's not good because the people who will be unable to afford a holiday will be the lowest earning members of society. It would be a perverse outcome if flying became something for the rich and privileged."
"Jet2 chief executive Steve Heapy has urged Chancellor Rachel Reeves to stop using the airline and holiday industry as a "cash cow", warning that any further increase in aviation taxes will hit lower earners hardest and risk pricing families out of foreign travel."
"Current APD rates range from £14 for domestic flights to £224 for long-haul journeys over 5,500 miles."
Steve Heapy urged Chancellor Rachel Reeves to stop treating the airline and holiday industry as a 'cash cow' and warned against further aviation tax rises. Heapy said higher taxes would 'inevitably' be passed to passengers, pushing up fares and reducing demand, with lowest earners most affected and families potentially priced out of foreign travel. Air passenger duty currently ranges from £14 to £224 and is scheduled to rise next spring. Jet2 reported half-year revenue of £5.3bn, capacity of 16m seats, adjusted pre-tax profit of £780m, flight-only passengers of 4.7m and reduced net ticket yields.
Read at Business Matters
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