Ha ha ha! Of course it does, that's because it's a projection. Unfortunately, the distances on the map are not all proportional to real distances across the Earth. Thus, if you use the method to calculate the change of latitude using distance covered (airspeed x time of flight), you will think that you are on a point on the map that is not the point where you really are. Now, these discrepancies are smaller if you cover smaller distances, like if you fly a crop dusting plane, but for intercontinental flights may become disastrous, because, instead of arriving in London, you will land in Iceland, that is if you don’t run out of fuel before that.
Note:
The formulas for calculating change in latitude are based on a RE model. One may assume that this is because latitude were deliberately defined to conceal a RE concpiracy and we use these complex formulas because we were only told to do so. On the other hand, one may assume the Earth to be round.