A surge in UK billionaires and multi-millionaires is helping to send the business aircraft sector in Europe soaring.

Top celebrities, sports stars and business people are all taking to private aircraft as new planes and charter companies make luxury flying more affordable.

The Sunday Times Rich List recently revealed that London has more billionaires than any other city, with 86, and the UK as a whole has 134 in total.

After several years in the doldrums there has been a significant increase in private flights across the continent with the UK helping to lead the way, according to latest figures.

As private aircraft from across the world head to Switzerland this weekend, ready for Europe’s largest business aviation convention, industry experts believe companies’ desire to save time on international meetings and high net worth individuals’ desire for privacy and convenience has helped buoy the market.

For the first time since 2011 there has been a significant increase in business aircraft use on the continent for six months in a row with flight departures up an average of more than six per cent for the first three months of this year.

The European Business Aviation Association (EBAA) calculates that a businessman having a meeting on the continent saves more than two hours per trip by avoiding scheduled passenger plane flights.

The estimated saving is achieved by avoiding congested commercial passenger hubs and taking off from smaller, less busy airports at a time designated to fit around a planned meeting.

Brandon Mitchener, CEO of the EBBA, said ‘After a few years of flat figures, we’ve now had six months of steady growth in business aviation traffic figures, including 6.7% growth in Q1, which is encouraging. In the UK, we’ve seen even stronger Q1 traffic growth with figures of 8% compared to the same period a year ago.

‘Business aviation traffic generally follows business cycles, so if the economy is strengthening then that tends to be good for business aviation.

‘But we’re also witnessing an expanding array of offerings for new and existing passengers and aircraft owners, including easier points of entry, new modes of operation and novel business approaches to meet new market demands.’

One of the newest arrivals to the European market is the $4.9m HondaJet (pictured ) which is the fastest, quietest and most fuel-efficient jet in its class.

With its striking over-the-wing jet engines which reduces noise, increases speed and allows more cabin space, the aircraft has already won a lot of plaudits.

A HondaJet spokesperson said: ‘Europe is a key market for us and we believe that the HondaJet is the perfect aircraft for saving valuable time when attending important business meetings across the continent.

‘It’s a relatively affordable jet that can fit up to six passengers so it’s perfect for companies wanting to fly a number of executive to a particular meeting.

‘Our aim is not to just take market share but to create new market opportunities.’

The HondaJet will be one of 60 state-of-the-art business aircraft that are gathering in Geneva, for the European Business Aviation Convention & Exhibition which starts on Monday.