Just as different passengers pay vastly different prices for essentially the same service.

My point is simply that there are different ways of apportioning risk and taking into account the ticket price is one way. Airlines can, for example, offer guaranteed compensation for a 1 hour delay, in exchange for a higher ticket price. (Wizzair actually do this but I doubt many take it up.)

As I said, I actually think the regulation is probably the right approach to protect the consumer in this market. I just wonder if the amounts are right. I heard an analyst estimate (can't remember where) that this would add £3 to the cost of tickets, which I would say is small but significant. Others may disagree.