ONE of the world’s largest corporate jet dealers is to open its first office in Europe in an effort to cash in on booming demand for private aircraft outside America.

Aero Toy Store, which holds a $750m (£376m) inventory of aircraft, is expected to announce plans for a Monaco office in the next two months. Chairman Steve McMillan said this was in response to demand from the Middle East, Europe and Russia.

“Five years ago our business was 100% in the US. Now it is 75% outside the US. We used to track our business directly against American corporate prof-itability. 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.”

Aero Toy Store specialises in buying and selling aircraft, often providing planes to those who want to jump the lengthy waiting lists for deliveries direct from the manufacturer. “For the larger and longer-range aircraft you can be looking at waits of four or five years,” McMillan said.

There will be something for European customers. Aero has been appointed sales agent for the Aerion SBJ, a supersonic business jet expected to fly in 2012. It will go on the market at $80m, and be able to cross from New York to Paris in four hours.

McMillan said Aero Toy Store had taken orders for 12.

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