Willie Walsh said that BA could “develop our business” in Dublin or Madrid instead of Heathrow

The owner of British Airways has threatened to give up on Heathrow and move overseas after warning that passenger charges will double to pay for a “gold-plated” third runway.

Willie Walsh, the chief executive of BA’s parent company, said that he could “develop our business” in Dublin or Madrid rather than pay for the expansion of Heathrow.

Speaking as the government announced a further six-month delay on the decision over airport expansion in the southeast last night, he warned that a third runway at Heathrow would lead to a sharp increase in charges for passengers flying in and out of the country’s busiest hub.

The existing charge of slightly more than £40 for a return trip would rise to at least £80 under the plans,