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9/22/15

Aircraft Industry: China-Russia Plane Deal: Airliner Co-Development Agreement By End Of 2015 - by Tim Marcin

Models of the ARJ21 regional jet from Commercial Aircraft Corporation of China are displayed at the Aviation Expo China 2015 in Beijing, Sept. 16, 2015. The Commercial Aircraft Corporation of China and Russia's United Aircraft Corporation are set to sign an agreement on developing a wide-body airliner by the end of the year.  
 
Russia and China are set to sign an agreement to co-develop a wide-bodied airliner by the end of 2015, China Daily reported Monday. The deal, apparently long in the works, would bring together two state-run aircraft companies in an attempt to take on Europe's Airbus and the United States' Boeing.

The deal with China's Commercial Aircraft Corp., or Comac, which would outline initial profit sharing and responsibilities, was scheduled to be signed by the end of the year. Further details would be decided upon by March of next year, said Yury Slyusar, president of Russia's state-controlled United Aircraft Corporation, according to the report from China Daily.

"So far, the project has proceeded well, and we plan to determine the technical requirements, specifications and outsourcing methods in March," Slyusar said, according to China Daily.

United Aircraft Corporation and Comac have been working on the joint development deal since May 2014, Reuters reported. Russia had been gauging interest in developing a wide-body airliner with China since 2012, but Comac initially expressed a lack of interest.

Read more: China-Russia Plane Deal: Airliner Co-Development Agreement By End Of 2015 Planned

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