This figure equates to more than three times the total passenger revenue of easyJet (£1.49bn) in the first half of this year and nearly double Virgin Atlantic’s pre-pandemic revenue levels in 2019 (£2.9bn).
 
Fragmented payments systems across the travel sector, put under increasing pressure by the growth in digital payments, present a "considerable challenge" to airlines and travel agents.

As a result of this, 13.4% of consumer payment transactions across the travel sector fail. Whilst most UK consumers will contact airlines and agents directly via phone following failed transactions, this process "erodes travel providers’ profit margins" and "creates friction" across the customer experience.

Emily Whalley, travel specialist at payment provider BR-DGE, which collated the findings from an analysis of the Office for National Statistics, said as the sector moves into the busy summer period, failed payment transactions will remain a "significant challenge" for agents. 

"Amid the disruption at airports and increasing cancellations of flights, air passengers are increasingly on the lookout for a frictionless and smooth experience from their travel providers," she added.