Deals Talked up at 4th International Air Show in Zhuhai

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Last updated at: (Beijing Time) Wednesday, November 06, 2002

Deals Talked up at 4th International Air Show in Zhuhai

Money did all the talking during the second day of the Zhuhai air show Tuesday as major participants rushed to sign sky-high aviation contracts.

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Money did all the talking during the second day of the Zhuhai air show Tuesday as major participants rushed to sign sky-high aviation contracts.

And China Aviation Industry Corporation I (AVICI) was undoubtedly the loudest after signing a US$169 million deal to manufacture A320 jet assemblies for aviation giant Airbus and an engine supply contract with General Electric Aviation Engine (GEAE) with a potential value of US$3 billion.

According to the Airbus contract, the Shenyang and Xi'an aircraft corporations under AVICI, will manufacture wing leading and trailing edge assemblies for US$160 million. The Chengdu Aircraft Company, also part of the industry corporation, will produce floor grids sections to the value of US$9 million.

During the day, AVICI announced it would adopt GEAE's CF34-10A engine for its yet to be made ARJ-21 regional passenger jet.

The development of the plane, with a maximum of 92 seats, has been given the all clear by the Chinese Government and it will be flying within the next few years.

Yang Yuzhong, vice-manager of AVICI, said 15 companies were involved in the design and manufacturing process of the plane and that there was every reason it would be successful.

Another major local plane manufacturer -- China Aviation Industry Corporation II (AVICII) -- found its financial partner Tuesday.

It signed a 1.1 billion yuan (US$130 million) leasing deal with the Western Financial Leasing Company for about 30 new aircraft.

AVICII officials said Zhi-9 helicopters and Yun-12 planes for regional routes will be provided under the deal.

"Instead of finding customers after our products mature, we realize that our product must be developed following the market demands,'' said Wang Bin, president of Hafei Aviation Industry Co Ltd under AVICII.

International Aero Engines Tuesday reaped a US$100 million contract to power eight Airbus A319 aircraft, booked by the nation's flagship carrier, Air China. Air China plans to use the single aisle aircraft to fly several short-haul routes.

Russian companies were prominent Tuesday at the air show.

Yuri Khozyainov, deputy chairman of the Russian State Committee on Military-technical Co-operation, said Russia will still focus on exporting military jets to Asia.

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