Domestic Jumbo Jet-Manufacturing Company Unveiled
A company to build large passenger aircraft was unveiled on May 11th in Shanghai, a major step closer to the country’s ambitious goal to produce homemade jumbo jets.
The new company has a registered capital of 19 billion yuan. The State-owned Assets Supervision and Administration Commission is the largest shareholder with an investment of 6 billion yuan for a 31.58% of the shares. Other shareholders are Shanghai Guo Sheng (Group) Co Ltd (26.32%), China Aviation Industry Corporation I (AVIC I) (21.06%), and China Aviation Industry Corporation II (AVIC II) (5.26 %).
The company will set its focus on five sectors—aircraft development, system integration, marketing, customer service and certification. And Commercial Aircraft Corporation of China Ltd (CACC) will undertake the chief responsibility of researching, developing, manufacturing and marketing the aircraft.
Within the first few years, CACC plans to finish delivery of ARJ21 aircraft—the first homegrown regional jet—and establish an operating system and train talents. The 70- to 90- seat ARJ21-700 came off the production line in Shanghai last December, and will start its maiden flight in the autumn.
Besides helping to improve the country’s independent innovation capabilities, the large-jet program is also of great significance in meeting the rapidly expanding domestic civil aviation market.
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