Insurance giant Standard Life had decided that airline stocks have no further part to play in its ethical funds.

It has pulled the drawbridge up after a survey of its investors revealed that 30 per cent wanted a complete exclusion.

Investors were also distinctly unimpressed with an option only to invest in airlines that had shown willingness in working towards significantly reducing their planes' carbon emissions.

The company declined to reveal what proportion of the £588.5 million ethical funds it manages is invested in airline stocks.

Julie McDowell, head of socially responsible investing at Standard Life Investments, said: "The views of investors in our ethical fund range are of paramount importance to us.

"We are unique in carrying out an annual survey to understand investor wishes and concerns and we seek, wherever possible, to reflect those concerns in the criteria applicable to our ethical funds."

She concluded by saying that Standard Life's ethical committee had decided that because a significant number of investors felt strongly that airlines should be avoided it should "reflect that concern" in its criteria.

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