Homegrown light aircraft's maiden flight a success

"The plane adopts about 80 to 90 percent domestic parts, and the fuselage uses glass fiber that is cheaper than carbon fiber, and therefore, the price is below 1 million yuan ($144,900)," said Wang Liangwei, project manager of the AG50.

General aviation companies from Beijing and Tianjin signed contracts on the spot, with the institute to buy 105 AG50 planes, on Wednesday.