Exeter-based operator Flybe has warned if the region's airports do not have guaranteed access to Heathrow airport, millions of pounds will be lost to the local economy.
The government has already indicated that it wants to build another runway at Heathrow.
And Flybe's plan includes ring-fenced slots for airports such as Plymouth and Exeter owned by the region being served, not by the company operating the route.
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This type of operation exists in other European countries and in the USA very successfully,"
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Jim French, managing director Flybe
Flybe's proposals come after BA announced late last year that it is to stop flying out of Plymouth and Newquay.
"Our contention is that if they go ahead and build the additional runway at Heathrow, the first priority to that additional runway should be to service the regions; Plymouth, Newquay, Jersey and Guernsey, " said Jim French, managing director of Flybe.
"These are all points that have been denied set access to to Heathrow for international business traffic."
Submitting plan
Mr French believes the idea could be replicated for all regional airports throughout the British Isles.
Flybe is suggesting a minimum of three daily slots to each UK regional airport from Heathrow.
"This type of operation exists in other European countries and in the USA very successfully," said Mr French.
Flybe is now submitting its plan to the government, which will be publishing its Air Transport White Paper in the Autumn.