Jet2 and Virgin Atlantic have been accused of hiking up its prices in the wake of Thomas Cook’s failure.

A number of customers have hit out the airlines for increasing prices by thousands of pounds since Thomas Cook failed in the early hours of Monday.

Rebecca McDonald tweeted Virgin: “We paid £800 with TC… your flights today are £4000!! If that’s not profiting from misfortune I don’t know what is.

Virgin responded: “I’m really sorry about this. All of our prices are live and subject to availability. It’s like a stepladder, with the most discounted tickets at the bottom, and most expensive tickets at the top. Once all of the most discounted seats have sold, the price goes up a level.”

Ash Kelly wrote: “Coincidence that a lot of Jet2holidays prices have rocketed this morning. Was looking at one last week that this morning would cost me £550 more for a family of 3?!?! #ThomasCook #jet2holidays

Steve Murray posted: “Guess Thomas Cook going under had nothing to do with flights going up £400 in this space of 4 hours shocking behaviour.”

Jet2 defended its pricing saying it fluctuated depending on supply and demand but that it was looking at increasing capacity.

In response Jet2tweets wrote: “Our pricing, as is common practice in the travel industry, works on a live system. As supply reduces, an inevitable consequence is that prices increase. However, we are looking at adding more supply (flights and seats) to help customers at this time.”