Large aircraft firm to debut this month
Updated: 2008-03-13 14:29
The nation's long-awaited large aircraft firm is expected to debut this month, and aviation design and marketing departments will be injected into the new company, the Shanghai Securities News reported on Thursday.
A source with the China Aviation Industry Corporation I (AVIC I) told the paper yesterday that the inauguration of the large aircraft maker will be held in Shanghai this month.
In addition, AVIC I will inject assets into the emerging large aircraft firm including Shanghai Aircraft Manufacturing Factory (SAMF), AVIC I Commercial Aircraft Co Ltd (ACAC) and the Shanghai branch of AVIC I First Aircraft Institute, according to the source.
SAMF was in charge of the assembly of ARJ-21, the nation's first homegrown regional jet; while ACAC was responsible for the ARJ-21's sales and operation management.
However, this is only a draft plan, and the central government will have the final say, the source said.
According to aviation experts, placing ACAC into the large aircraft project will integrate its rich experience of aircraft marketing and enable the new plane maker to provide both trunk line aircraft and regional ones.
Earlier reports said that last month, the State Council approved in principle the preparatory plan for the large aircraft firm. According to the plan, the new company will be responsible for large aircraft project management, design, assembling, sales and services.
Sources also told the paper that the makeup of the new company's shareholders is already established. The central government's investment arm and the Shanghai municipal government will be the largest and second largest shareholders. AVIC I and AVIC II will have the same shares. Baosteel Group and Chinalco will also join the list. Moreover, the company may offer more shares after its inauguration.
The large aircraft refers to a trunk line passenger aero plane with more than 150 seats and weighing over 100 tons. Currently, the international commercial aviation market is dominated by Boeing and Airbus. The Chinese government last year approved the plan to build homegrown large aircraft before 2020.
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