Britain’s biggest business lobby says creating more airport capacity in the UK is critical to the country’s continued competitiveness.

Despite having some of the biggest and busiest airports in the world, air traffic to and from the UK is becoming stretched and aviation authorities are mulling ways to increase capacity.

Three options include a new runway at Heathrow, a longer runway at Gatwick and an entirely new airport, colloquially known as Boris Island, which would be built in London’s Thames Estuary.

The CBI estimates that just eight new routes to emerging markets would generate £1 billion a year in new trade. It says hub airports, which handle transfers as well as flights to the destination, are the best catalyst for developing these new routes.

It said other countries in the EU were creating connections to destinations to the BRIC countries (Brazil, Russia, India and China) as well as links to powerhouses of the future such as Indonesia.

CBI deputy director-general Katja Hall said: “The UK business wants action. There can be no more excuses – we need to see the Airports Commission deliver a strong case for new capacity and a clear schedule for delivery, and politicians to commit to spades in the ground by the end of the next Parliament.

“While no-one can predict the future of air travel, the track record shows that it tends to be hub airports that deliver the new connections to emerging markets that we desperately need.

“With Heathrow full and the UK slipping behind in the race for new connectivity, it is essential that the Airports Commission delivers a solution that addresses the ticking time bomb of our lack of spare hub capacity.”