David Speakman was referring specifically to airports and the way they treat passengers.

“The day they start learning that as businesses that it’s all about customers and it’s not about shareholder value. If you look after the customer you get shareholder value. And the number of people who think it’s the other way round – it’s not,” Speakman said.

Speakman also lambasted airlines for their failure to pay customers refunds for delayed flights.

Although he acknowledged that it would cost the airlines a lot of money, he said the cost could be built in to airlines’ models.

“That’s integrity. You’ve got to look after you customer, that’s the deal,” he said.

Speakman stepped down from his role as chair of Travel Counsellors earlier this year. Last year private equity firm Equistone took a majority stake in the business.

Speakman, who was speaking at the Elman Wall Travel Directors’ Summit 2015, revealed that he had previously spoken with Switzerland-based Kuoni and private equity firm Isis (now Livingbridge) about buying the business.

Travel Counsellors was founded in 1994. Speakman said its success was down to “integrity”.

“I believe that we sell [travel] with emotion because people want to be looked after.”