The Times reports today that profits have risen to more than £100 million for the exchange companies which also offer passengers worse deals than at European hubs.

The paper added that one of the reasons for the worse rates is down to the high rents and the exclusivity deals the airports offer the companies changing the cash.

The investigation found that the average rate at 20 British airport bureaux de change over the last three months was 13% worse than the market exchange rate.

European airports also offer a better deal with profit margins a quarter lower on average.

For instance Dankse Bank at Copenhagen airport had only a 3% difference from the market exchange rate, compared to 12.5% at Heathrow and 15% at Stansted.

The Times added its investigation found the worst rate in the UK was at Southampton airport where £1 buys 95 cents through Moneycorp compared to a market rate of €1.18 for £1.

The paper added while airports do not set currency exchange rates they make money from the companies elsewhere.

In 2015, Heathrow and Gatwick earned £76 million from bureau de change rents, a 20% increase in revenues over the last two years.