More financial support from the government will bolster the domestic aviation industry, which is facing strong competition from foreign players such as Boeing and Airbus, said Wu Guanghui, vice-president of the Commercial Aircraft Corporation of China Ltd (COMAC).
China is forecast to need about 4,000 planes in the next 20 years.
State fund for homegrown jumbo jet urged
Major domestic airlines such as Air China, China Eastern and China Southern, as well as Sichuan Airlines and Hainan Airlines, have expressed strong interest and support in buying his company’s jumbo jet, Wu said.
The letter “C” in the title of the country’s first homegrown jumbo jet is said to stand for “China” as well as “COMAC”, while the first “9″ implies “forever” in Chinese culture and the “19″ stands for the jet’s maximum 190 seats.
The single-aisle jetliner is designed for short- to medium-haul flights of up to 5,555 km.
The draft design of the country’s first independently developed jumbo jet will be completed by this year and be put into production by next year, Wu had said earlier.
The plane is slated to test fly in 2014 and be ready for deliveries after 2016. COMAC, which was founded in 2008 to take charge of the country’s jumbo jet project, expects to sell 2,000 C919 planes at home and abroad in the next two decades, Wu said.
State fund for homegrown jumbo jet urged
“But what could harm the sales of the domestically made planes is that very few aircraft-leasing companies buy domestic airplanes and rent them to airlines,” he said in an interview with China Daily.
“Leasing is the major way for airlines to expand the fleet … and the situation will especially hinder small airlines, which are short of funds, from buying the cheaper homemade jets.”
Wu suggested that the government establish a State fund of at least 30 billion yuan to help homegrown jet buyers with their financing. – read more at ChinaDaily.com…