U.S. Corporate Influence On Bizjet Market Fading
The chairman of Aero Toy Store, one of the largest business aircraft dealers in the world, says the U.S. no longer calls the tune in the bizjet market. “Five years ago our business was 100 percent in the U.S,” Steve McMillan told the Financial Times Now it is 75 percent outside the U.S. We used to track our business directly against American corporate profitability. Now that is only one factor, our sales are much more closely related to the number of billionaires in the world. It is an almost exact match.” McMillan was interviewed about news his company is planning an expansion to Monaco to be closer to its customers.
Aero Toy store began in Florida as an offshoot of a Montreal businessman’s car business and now has a $750 million inventory of mostly larger business jets. It buys and sells aircraft that, if purchased from the manufacturer, wouldn’t be delivered for up to five years from the order date.