China Aircraft Manufacturer Got its First Major Overseas Deal
Posted by Jess Dayuno on November 6th, 2008
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Commercial Aircraft Corporation of China or COMAC is dipping on the aviation market and just got its first major order from General Electric. They could not be happier because they were able to work out a $750 million deal for 5 jets and an option of 20 more.
It is definitely an advantage when your company is fully backed by your own government. When the economies of some powerhouse countries around the globe are in a very bad shape, it is such a relief for a company such as COMAC.
The final signing of the agreement was held at the Zhuhai air show in China. The Chinese aircraft manufacturer would be delivering ARJ21 passenger jets to GE. It is quite significant and historic as well since it would be the first time that a civilian aircraft researched, develop and manufactured in china will be sold in the United States.
GE reported that an aircraft will cost $30 million each and they are expecting that all the types of certification needed for the aircraft both from the U.S. and China will be given out by 2010.
COMAC said that the first test flight for the ARJ21 civilian aircrafts will be on November 16 and they are quite excited by it. They are planning to deliver the aircrafts to GE sometime in 2013.
This overseas deal with GE is quite important for them since most of the orders they received are from local buyers. Despite some global economic concerns, they remain positive and are moving forward in achieving their ambitious goal of competing with the leading aircraft manufacturers in the world such as Boeing and Airbus.
