Despite what many fear is an overheating economy, at least one warning sign associated with the economic excesses of the pre-crash years is nowhere to be seen: Private jets have not yet made a return to Reykjavík. According to data from the Icelandic Airport Management Company ISAVIA the number of travellers who arrived by private airplanes was lower in 2017 than at any time since 2010.
Last year's figures were significantly below the 2,500 average for 2010-2015.
The bankers are gone
A total of 1,915 passengers arrived in private aircraft at Reykjavík airport in 2017, down from 2,301 in 2016. The private-jet traffic has been dropping in recent years, despite rapidly rising numbers of foreign travellers and one of the longest economic booms in Icelandic history.
Read more: 26 bankers already sentenced to a combined 74 years in prison
In 2007, the peak year prior to the financial crash and economic recession a total of 5,316 passengers arrived by private aircraft at Reykjavík Airport. When the Icelandic financial miracle came to an end in the 2008 financial crash the financiers, bankers and corporate Vikings, who had hopped between Reykjavík and London, Luxembourg or New York, disappeared. Since then the private jet traffic has only continued to contract.
Despite what many fear is an overheating economy, at least one warning sign associated with the economic excesses of the pre-crash years is nowhere to be seen: Private jets have not yet made a return to Reykjavík. According to data from the Icelandic Airport Management Company ISAVIA the number of travellers who arrived by private airplanes was lower in 2017 than at any time since 2010.
Last year's figures were significantly below the 2,500 average for 2010-2015.
The bankers are gone
A total of 1,915 passengers arrived in private aircraft at Reykjavík airport in 2017, down from 2,301 in 2016. The private-jet traffic has been dropping in recent years, despite rapidly rising numbers of foreign travellers and one of the longest economic booms in Icelandic history.
Read more: 26 bankers already sentenced to a combined 74 years in prison
In 2007, the peak year prior to the financial crash and economic recession a total of 5,316 passengers arrived by private aircraft at Reykjavík Airport. When the Icelandic financial miracle came to an end in the 2008 financial crash the financiers, bankers and corporate Vikings, who had hopped between Reykjavík and London, Luxembourg or New York, disappeared. Since then the private jet traffic has only continued to contract.
