British airlines are currently required to use a fuel mix containing 3.7 per cent SAF. The mandated share is due to increase next year and is expected to reach 10 per cent by the end of the decade. Gallego said producers are not making enough SAF to meet the targets, saying: “We have mandates for things that do not exist.”

He said European carriers would face “a major cost disadvantage” against global rivals. The industry needed “a level playing field,” he added, or Europe risked killing its aviation sector without saving the planet.

UK ministers have consulted on the proposed fuel rules. One official said a “common sense approach” would help airlines keep costs down and make holidays cheaper for families. The proposals under consideration would require UK airlines to buy second- or third-generation SAF, made from non-food waste or using electricity. That fuel is more expensive than standard SAF.

IAG, which also owns Vueling and Aer Lingus, reported a 16 per cent fall in pre-tax profit to €3bn for the nine months to the end of September. The company attributed the decline to a “significant increase in jet fuel prices from March onwards,” following the closure of the Strait of Hormuz after war broke out in the Middle East. Industry executives have warned that high fuel costs could cause some airlines to collapse next year.