Bank of England Warns Holiday Airfares Set to Soar

A senior Bank of England official has warned holidaymakers to expect higher airfares in the future. Deputy Governor Dave Ramsden said that airlines could be shielding consumers from a surge in costs by hedging against rising oil prices and absorbing extra expenses.

The relatively stable picture on airfares since the US-Iran war broke out 'can't go on', according to Ramsden, who made these comments on Tuesday. This warning comes after holidaymakers were spared a surge in costs over the summer.