Connect with us

Hi, what are you looking for?

Alive Business PlanAlive Business Plan

Stock

China’s COMAC aims to lift C919 jet production capacity to 50 this year, report says

BEIJING/SEOUL (Reuters) – Chinese planemaker COMAC plans to raise production capacity for its homegrown C919 single-aisle planes to 50 this year, a COMAC executive told a media outlet supported by the Shanghai government.

COMAC Deputy General Manager Shen Bo also said the Shanghai-based state-owned firm aims to manufacture 30 C919 aircraft this year, in an interview with The Paper published on Saturday.

COMAC is seeking to compete internationally with leading Western planemakers Airbus and Boeing (NYSE:BA), which produce dozens of their single-aisle A320neo family and 737 MAX jets per month.

Scaling up production and obtaining certification from foreign aviation regulators are key to the Chinese planemaker’s growth strategy.

The C919 entered commercial service in 2023 and around 16 of the planes are currently in operation with Chinese airlines, flying within the mainland and since this month to Hong Kong.

Aviation consultancy Cirium said it expects another 27 C919 jets to be delivered this year.

China’s three leading state-owned airlines, Air China (OTC:AIRYY), China Eastern Airlines (OTC:CEAYY), and China Southern Airlines, are expected to operate a fleet of at least 100 C919s each by 2031, according to their announced orders.

In 2023, a COMAC official said the company had a target of achieving an annual production capacity of 150 C919 aircraft within the following five years.

In addition to the C919, COMAC is also developing a larger C929 wide-body jet.

Shen said the C929 was in the preliminary design and supplier selection phase, with plans to move to the detailed design stage soon.

Air China will be the first customer for the C929, COMAC said in November.

This post appeared first on investing.com
Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    You May Also Like

    Latest News

    The Gateway Pundit, a far-right website, published a note from its editor on Saturday acknowledging that two election workers in Georgia did not engage...

    Latest News

    Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...

    Investing

    JAKARTA (Reuters) -Indonesia has asked Alphabet (NASDAQ:GOOGL)’s Google and Apple (NASDAQ:AAPL) to block Chinese fast fashion e-commerce firm Temu in their application stores in...

    Latest News

    New majorities in Congress, particularly when the incoming party has a new leader, offer the rare chance for the institution to take a breath...



    Disclaimer: alivebusinessplan.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 alivebusinessplan.com