UPDATE 1-AIRSHOW-Embraer business jet sales to slow in emerging markets
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By Nadia Saleem and Katie Paul
DUBAI Nov 9 (Reuters) - Brazilian planemaker Embraer's head of business jets said on Monday emerging market sales would slow for the next three years and the company would focus more on the United States where it is spending more on marketing and sales.
"I don't see any possibility in the short term of any reversion in the (emerging) market," Marco Pellegrini, president and chief executive of Embraer Executive Jets said on the sidelines of a news briefing during the Dubai airshow.
Demand in the Middle East market is flat, with lower oil prices in oil-exporting countries dampening new business, he said.
"Middle East is more related to the economy and oil price. I think there is a big potential in the region, but currently we don't see the demand," Pellegrini said.
But demand in that region might pick up in the medium to long-term because it has a high concentration of high-net-worth individuals that use business jets, he said.
Pellegrini said the company was shifting its focus to the United States because of weakness in emerging markets including China. Slowing economic growth in China as well as a crackdown on corruption by President Xi Jinping is putting off some potential buyers.
"We are transferring more activities to U.S., investing more in marketing and sales ... there. We are growing our operations there and we were able to grow sales and market share there substantially this year," Pellegrini said. Continuación...