Please, stop cooking and use a full hand of kitchen paper to soak up the oil on the bottom of the pan or pour off any excess oil. After that you can continue cooking.
Please note that white smoke does not harm your Philips Airfryer or the result.
If you cook food with a high fat content very often, you can use:
A snack cover, for Airfryer model HD924x, or
A splatter-proof lid, for HD962x,HD964x or
*A variety basket, for HD921x, HD922x, HD923x or HD953x to prevent smoke
You can find the model number on a sticker at the bottom of your Airfryer.