The demand and use for private jets can be used as a rough barometer of how ultra-high net worth individuals.

GlobeAir, the air taxi operator in Europe, logged 2,509 flights between July and September this year, more than any other third quarter period in its ten-year history, and four per cent higher than the same period in 2016, throwing a light on general vibrancy in the private jets market.

The firm also found that the UK accounted for 299 of GlobeAir’s departures in the third quarter of this year, a rise of 33 per cent on the same period last year. 

The second biggest increase in departures was in Spain, which increased by 26 flights compared to the same time last year. The number of flights departing from Switzerland and Italy also increased, by 11 and 10, respectively.

Italy had the highest number of departures for GlobeAir, with 490 flights between July and September 2017.

The company states growth is due to an increase in business aviation traffic and a growing trend to use smaller aircraft in a bid to save money. 

Analysis of industry data by GlobeAir reveals that in October there were 72,504 business aviation departures in Europe, which is around 8 per cent higher than the same month a year ago. 

The demand and use for private jets can be used as a rough barometer of how ultra-high net worth individuals are feeling, as well as a reflection, perhaps, of attempts by people who can afford it to avoid some of the more irksome sides of mass airport security. 

A number of jurisdictions, such as Malta and the Isle of Man, make a point of advertising themselves as good places to register aircraft for tax reasons. Recently, the Paradise Papers found Lewis Hamilton’s advisors had set up a tax scheme in the Isle of Man in order to avoid paying VAT on his private jet.