The boss of Heathrow has accused airlines of keeping fares artificially high this summer to boost profits.
John Holland-Kaye said flight operators such as British Airways and Virgin Atlantic had capitalised on pent-up demand to travel abroad after two summers of Covid restrictions.
Asked if carriers had kept fares artificially high, he said: "Completely. Airlines have put their prices up over the summer."
The Telegraph says today that recent analysis by Skyscanner found that air fares are currently 25%-30% more expensive than before the pandemic.
Mr Holland-Kaye's comments came as Heathrow confirmed that a cap on passenger numbers passing through the airport may be reinstated this Christmas "if needed".
Heathrow's decision to impose a 100,000-passenger-a-day limit on airlines this summer infuriated airlines.
Travel chaos
The cap was designed to avoid a repeat of travel chaos that had blighted air travel after Covid restrictions were eased in the spring.
The Telegraph first disclosed earlier this month that Heathrow was in talks with carriers to impose an ad hoc limit during peak periods this Christmas.
The revelations prompted Sir Tim Clark, the president of Emirates, to call for Mr Holland-Kaye to resign.
The Heathrow chief said the cap was only a "safety net if there is a risk of demand on peak days" this Christmas and he ruled out it being needed next Easter.
Passenger numbers hit 18million during the summer months, making Heathrow the busiest airport in Europe for the first time since the start of the pandemic.
The airport said it now expects to welcome between 60million and 62million passengers this year, having earlier this year projected that just 45million people would flow through its terminals in 2022.
Row with airlines
The forecast is at the centre of a row with airlines. Carriers say airport chiefs are underestimating passenger numbers in an attempt to convince regulators to increase passenger airport charges.
One airline source said: "It's all about Heathrow persuading the Civil Aviation Authority (CAA) that there will not be a strong rebound in passenger numbers between 2022-2026, and therefore the CAA should use a low passenger forecast that will drive a higher charge per passenger."
Mr Holland-Kaye rejected such allegations.
"That's not the case at all," he said. "It took us years to build up to 81million passengers in 2019. Circumstances at the time were a booming economy, peak globalisation, very peaceful world and low interest rates. That was as good as it gets. I don't think any of us expect the same circumstances to occur in the next couple of years.
"It is just being realistic to say we are not going to get back those boom times next year, or probably the year after that. Which is why 2025 or 2026 is more likely."