By all accounts smaller jets are suffering the effects of economic slowdown more acutely than their larger, long-range counterparts. Owners and charter customers in this sector are perhaps more likely to reduce their travel requirements or consider alternative modes.

Euro 2012 should be good news for charter operators across the board, as a greatly increased requirement for flights to the venues in Poland and Ukraine will mean even those not engaged with carrying football fans will be busy ensuring day-to-day charter needs are met.

Italian air charter operator Icaro Aerotaxi is to acquire a Citation VII to supplement its fleet of smaller Citations.