Russia and China to Build Wide-Body Commercial Aircraft
China and Russia have formally registered their joint venture, founded last month to build the Comac C929, a wide-body commercial jet.
Commercial Aircraft Corp of China (Comac) and Russia’s United Aircraft Corp (UAC) said at a ceremony in Shanghai that their common goal is to build a "competitive" commercial aircraft. The joint venture is a challenge to the duopoly of America’s Boeing and Europe’s Airbus, the two largest global aircraft market leaders.
Robert F. Leduc, president of the aircraft engine manufacturer Pratt&Whitney warned that the capacity of these two companies working together should not be ignored. "I view Chinese money and Russian acumen as a pretty formidable combination", said Leduc.
The joint venture is called China-Russia Commercial Aircraft International Company (Craic) with each side taking a 50 percent share in the project. Shanghai has been designated as the final assembly location, according to the agreement.