Heathrow expansion would mean a "big prize" for Richmond, its community and businesses, the airport’s chief executive has said weeks before the Airports Commission is due to make its recommendation.

The airport has released blueprints for noise and emission reductions, which include phasing out the oldest aircraft and increasing fines for airlines breaching noise limitations, in an attempt to appease people living near the airport.

Chief executive John Holland-Kaye, who lives in Oxfordshire, said airlines British Airways and Lufthansa have agreed to make modifications to their A320 aircraft to reduce noise, and if the airport is granted expansion, thousands of nearby homes will benefit from £700m of private investment in noise insulation.

He said: "It won’t be just for the people under the new flight paths. We are making this offer well beyond that."

John Stewart, chairman of Hacan, said a plan to reduce noise is not enough to compensate for the addition of a third runway and noise insultation should be made available regardless.

He said: "Heathrow know that noise is the big local obstacle to getting a third runway. Having lost the battle last time round they are trying very hard.

"I think for a third runway to ever be acceptable each local community would need to feel that noise and disruption would need to improve rather than get worse and they have not convinced us."

Transport for London raised concerns that the cost of improving transport links to Heathrow had been seriously underestimated this month and could cost as much as four times the £5bn initially quoted, but Mr Holland-Kaye said he did not recognise these claims.

He said: "In the future we can have five rail lines serving Heathrow - including HS2 and Cross Rail - which will significantly benefit local communities.

"There are lots of people in Richmond and Twickenham who would love to have an alternative to taking a taxi or their car and better rail access will do that for them."

When pressed about how much funding the Back Heathrow campaign had received from the airport, Mr Holland-Kaye was reluctant to reveal any figures, but said the organisation existed to give a voice to those who supported expansion but were not involved in the debate.

Mr Holland-Kaye added the benefits of expansion for Richmond would outweigh the disadvantages, and failing to maximise the airport’s potential would hold back the economy both locally and nationally.

He said: "We will found out if we have made a strong enough case when the Davies Commission makes its announcement but above all I want us to be a good and responsible neighbour.

"I will keep on listening to the community."