Topjet is managing to keep its air taxi operations stable, despite the limitations of the market in the light and midsize range which it occupies. The Italian operator is based at Milan Linate and flies two Hawker 400 and a Hawker 850, with the last purchase – a 400XP – taking place in 2010.

President Dino Rasero has witnessed a reduction in hours per year on smaller fleets, but is optimistic about his company's chances in the wake of recent closures. He says: “Operations with very light jets seem to be improving, and with heavy jets too. I think the gap between the small and the big is a bit larger now than in the past. Topjet positions itself in the light and midsize category, and a couple of big companies here ceased operating, so we are gaining from this.

“It is sad to say , but we do have some advantage when considering the state of the air taxi market in Linate. The market is a bit smaller, but we have fewer competitors, so basically we have remained pretty much in the same position as three or four years ago.

“It's good for us, sad for them, but that's life and that's the market.”

There is no doubt in Rasero's mind that the economic situation in Italy had an impact on business aviation, and this was especially true in the psychological sense: “Our customers didn't feel the crisis too much, I don't think,” he says. “But when they are reducing their staff and condensing plans, they don't want to be seen to be flying on a private jet.

“I have to tell you that in the last few months we have seen a recovery. I think the psychological side has subsided a little. A couple of years ahead of us we will see improvement in the use of air taxis.”

As to whether or not the operator considered a move away from Italy – which was the case in 2013 with Blu Halkin – Rasero says it was never up for discussion. “We are in Milan and will continue to stay here. Another advantage we have had is that some families or wealthy individuals that owned aircraft, have now sold them. This has been advantageous for us: they don't own an aircraft any more but need to fly, and so they ask for air taxi services.”

Topjet is continuing its longstanding cooperation with Eurofly Service, which manages its three aircraft; it handles the operational and maintenance arm of the business. Eurofly does offer aircraft itself for charter, and in this instance Topjet acts as a broker. “Roughly 50 per cent of our revenue is generated via our own aircraft, and the rest through brokerage,” says Rasero. “We can use our aircraft if the customer asks for midsize, or broker if there is a request for very light or heavy jets.”

Topjet acts as a sales agent for further jets, but does not own them directly. Rasero and his team provide commercial work for these aircraft, which are based in northern Italy.

Rasero's plan for the business is to remain as things stand for 2014: “I think that companies in such a situation as ours, if they don't change the way things are configured so much, they will be stronger at the end of the crisis. Lots of companies are closing, lots of companies are having to lose staff. We try to go through the difficult moments, and try to catch the recovery as soon as we can by doing our best.”