Heathrow’s preferred two options are to the west of the airport and are the most complex in terms of construction.

Both plans – costing up to £18bn – involve putting a stretch of the M25 in tunnel to make way for a new runway.

Heathrow said all three options are “quicker and cheaper than any rival hub option”.

A statement added: “Heathrow believes the two westerly options offer clear advantages.

“They deliver a full-length third runway while minimising the impact on the local community from noise and compulsory house purchases.”

Colin Matthews, Heathrow’s chief executive, said, “After half a century of vigorous debate but little action, it is clear the UK desperately needs a single hub airport with the capacity to provide the links to emerging economies which can boost UK jobs, GDP and trade.

“It is clear that the best solution for taxpayers, passengers and business is to build on the strength we already have at Heathrow.

“Today we are showing how that vision can be achieved whilst keeping the impact on local residents to an absolute minimum.”

Heathrow said the new runway could be in place by 2029