The Times report was a sensible and balanced report and was a fair representation of the situation today.
The fact is that for the general population inflation is running at a far higher level that the official statistics show.
For those on a fixed income the problems are severe; food and fuel costs take a higher proportion of income now than ever and that reduces the amount to sopend elsewhere.
Fixed income people tend to be pensioners and it has been the grey pound which has fueled the growth in travel especially for the low cost carriers.
Tie that in with the fall in value of the £ against the € where the majority of travellers have been going and the money available is even less.
The worst hit will have it bad but for the airline businesses they will need to get ready for a difficult time and I suspect already have their layoff plans ready and waiting.