Heathrow’s airlines have joined forces to call for an urgent re-think of the way in which the hub is regulated, amid soaring passenger charges and a general decline in standards.

Virgin Atlantic, the IAG and Heathrow AOC, which represents the interests of the airport’s airlines, urged the aviation regulator on Monday to launch a “fundamental review” into the current model, which they argue is “not fit for purpose.”

They were joined by Surinder Arora, the billionaire hotel operator and chair of the Arora Group.

The new joint campaign is lobbying for any changes to be implemented before investment in expansion, but without delaying a third runway.

It comes following a fierce and long-running spat between the UK’s busiest hub and its airlines over the level it sets passenger charges.

Airlines argue Heathrow’s monopolistic structure, which sees it act as the sole operator of all of its terminals, has led to inefficient spending and decision making that goes against the interests of its consumers and airlines.

Heathrow has become the world’s most expensive airport over the last 15 years despite growing concern over customer experience and the state of its infrastructure. Passengers now face £1.1bn more in charges than if they were set in line with equivalent European airports, the campaign group claimed on Monday.

Chatter over Heathrow’s long-delayed third runway finally getting the go-ahead has further fuelled concern over how the expensive project will be funded.