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High-fliers not favouring white chess pieces? (3,3,3)

Ross

I believe the answer is:

the jet set

I'm a little stuck... Click here to teach me more about this clue!

'white chess pieces?' is the definition.
Although both the answer and definition are singular nouns, I don't understand how they can define each other.

'high-fliers not favouring' is the wordplay.
I cannot really see how this works, but
'high' could be 'h' (abbreviation) and 'h' is present in the answer.
'fliers' could be 'jetset' (I have seen 'High fliers' mean 'jet set' so perhaps 'fliers' could also mean 'jet set') and 'jetset' is found in the answer.
The remaining letters 'te' is a valid word which might be clued in a way I don't see.
This explanation may well be incorrect...

Can you help me to learn more?

(Other definitions for the jet set that I've seen before include "Black box" , "Wealthy globetrotters" , "frequently found on planes?" , "on a 747?" .)

I've seen this clue in The Independent.
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