If only it were that easy
You are right, most biz jets are owned by companies. However, many of the companies are owned by wealthy individuals who use the aircraft for private purposes. In such circumstances, there is a deemed supply of the aircraft. Hitherto, this deemed supply of a qualifying aircraft was zero-rated for VAT. If the law is changed so that the larger biz jets become non-qualifying, this deemed supply would become taxable at the standard rate. The wealthy owner might just baulk at having to account for VAT at 15% on his private or non-business use (17.5% from January 2010).
It is possible that HMRC in the UK may designate that the larger Biz jets are "of a type used by airlines for reward chiefly on international routes" (and if I were part of an industry group, that is what I would be lobbying for). However, the EU would need to be convinced by hard evidence that (say) a Citation X is used by an airline!!! (I suppose we then get down to what is the definition of an airline).
Miss T Wood