The jet registered as OE 1FB was parked at the apron when it suddenly slipped, skidded and landed into the trench.
Malindi Airport Manager Walter Agong said it took his officers at least two hours to retrieve it.
Mr Agong suspects the pilot forgot to pull up the hand brake.
No one was inside the jet when the incident occurred.
The officer, said the jet suffered slight damage as it moved slightly before landing in the trench.
Flavio who owns the luxurious Lion In the Sun and the Billionaire resort has been in Kenya since the Christmas and New Year holiday accompanied by his wife and friends.
He was set to jet out of Kenya this week and the incident might delay his departure.
In 2009 six tourists among them Formula One driver Alonso Fernado narrowly escaped death after their luxurious jet hit a wall as they were leaving the Malindi airport.
The tourists had just completed their holiday when they boarded Alonso’s jet heading to Madrid in Spain before the incident occurred.
Italian bilionaire Flavio Biatore’s jet that veered into a trench at the Malindi airport yesterday. It took at least two hours to retrieve it.
[PHOTO: PAUL KINYANJUI/ STANDARD]