This time of year the conversation in more affluent parts of town turns to holidays. "Where are you going this year?" people start asking. Conversation will often then drift towards "how are you traveling, private or charter," referring to the two means of flying private.
Not this year though.
Private jet departures in Europe are down 3% this year while the rest of the world has seen an increase of 2%. The U.K. jet-set are particularly hard hit. Usage is down 6% against last year and in London departures are down more than 10% according to data by WINGX Advance, a data research and consulting company for the industry.
"This may be a negative barometer for the summer season," says Richard Koe, managing director of WINGX Advance.
Particularly worrying, he says, is the 15% decline in private jet flights out of Cannes and Nice in May this year. As any Euro jet-setter knows full well, in May the French Riveria hosts the unmissable duo of the Cannes Film Festival and the Monaco Grand Prix.
After May, Europe's jet-set normally pack off to the two Balearic islands of Ibiza and Mallorca, each normally receives a third of the private jets of Cannes, according to WINGX data. Sardinia and Corsica are also popular spots, but all might expect less this year as Europe's wealthiest fail to justify such expenditures.
Perhaps such images of ostentation are out of sync with today's world. "The environmental impact of aviation has become headline news due to the recent Extinction Rebellion protest in London along with the shaming and naming of certain individuals," says Gabriella Somerville, managing director of ConnectJets.
In France at least, private jets do not fit well with the message the Gilet Jaunes have spread around French towns this year. Emmanuel Macron has been lambasted "president of the rich" and even billionaires' donations to rebuild Notre Dame have been slandered.
Saudi Arabia's jet-set, who have traditionally filled the forecourts of European airports, have certainly taken the hint. Many have grounded their aircraft this year for fear of falling foul of Crown Prince Mohammed bin Salman's corruption purge. Best not to raise your head above the parapet, or your jet above the clouds, if you want to keep hold of your wealth in Saudi Arabia.
But look at the types of private jets that are absent this year and they are not the long haul carriers of overseas visitors. "The biggest declines in business jet activity so far this year in Europe is coming in the small and midsize segments," says Koe.
In other words, it is not the superrich, but the quite rich who are not flying private this year. And, since small and midsize jets don't normally fly across continents or oceans, it is Europe's wealthy who are responsible for the decline.
"This suggests that users of these aircraft, especially in the charter market, are most sensitive to the deteriorating economic sentiment," suggests Koe.
"We are seeing substantial growth outside of Europe which clearly indicates that the current political climate is creating a large percentage of uncertainty in the marketplace," says Somerville.
Asia is one of those places seeing growth. Nearly 30 private jets—worth around $1 billion—are due for delivery in Singapore in the next six years, according to Shearwater Aero Capital, a U.S.-based global corporate aviation finance specialist.
In Europe, however, the cost-trimming is forcing private jet users to go greener. "We have seen a significant increase in the demand for turboprops and more fuel efficient aircraft and I think we will see a revival of the turboprop over the coming years, averaging a 40% less fuel burn," says Somerville.
There is a silver lining for the European jet-set then. By trimming their budgets, their summer holidays and business trips could become greener.
