Heathrow Airport has criticised proposed new price controls on the annual fees it can charge airlines.
The Civil Aviation Authority (CAA) on Thursday said Heathrow's yearly rise between 2014-18 should not be more than the retail price index (RPI).
But the airport's chief executive, Colin Matthews, said this could restrict investment and have major consequences for passengers and airlines, the BBC reports.
The CAA also proposed capping rises at Gatwick airport to RPI plus 0.5%.
Travel expert Simon Calder says Heathrow airport has been more expensive than others due to "arcane" charges.
Airports charge airlines for use of their facilities, including landing fees, security and use of terminals.
Plan rejected
Heathrow had submitted a plan, rejected by the CAA, seeking to raise annual tariffs for airlines by 4.6% above RPI inflation.
Dame Deirdre Hutton, chairwoman of the CAA, said in a statement: "The proposals will put an end to over a decade of prices rising faster than inflation at Heathrow.
"Tackling the upward drift in Heathrow's prices is essential to safeguard its globally competitive position. The challenge for Heathrow is to maintain high levels of customer service while reducing costs. We are confident this is possible and that our proposals create a positive climate for further capital investment, in the passenger interest."
But Mr Matthews said: "This proposal is the toughest Heathrow has ever faced. The CAA's settlement could have serious and far-reaching consequences for passengers and airlines at Heathrow.
"We want to continue to improve Heathrow for passengers. Instead, the CAA's proposals risk not only Heathrow's competitive position but the attractiveness of the UK as a centre for international investment. We will now carefully consider our investment plans before responding fully to the CAA."
Despite the criticism, the CAA's price control is an improvement on a draft proposal earlier this year that Heathrow's five-year cap should be RPI minus 1.3%.
