Tue, Nov 04, 2008
70-Seat Plane China's First Step Into Global Airliner
Market
Aircraft lessor GE Commercial Aviation Services announced its
order for up to 25 Chinese-made ARJ21 airliners Tuesday... a deal
reportedly worth $750 million for Commercial Aircraft Corp. of
China Ltd, and potentially far more in terms of worldwide
credibility.
CACC Chairman Zhang Qingwei told Bloomberg GECAS would sign the
contract Tuesday during Airshow China 2008 in Zhuhai.
"This is huge for GE Capital," said GE spokesman Dan Whitney.
"It demonstrates our ability and commitment to continue to invest
in emerging markets where we see solid growth potential."
The ARJ21 -- which bears more than a passing resemblance to a
Douglas DC-9 and its many McDonnell-Douglas variants -- is China's
first serious attempt to market a regional airliner to the global
market. The first 70-seat ARJ21-700 "Flying Phoenix" was rolled out
last December, but has yet to make its first flight.
Few details of the deal were made available, though it appears
GECAS is stepping tentatively into the market for the Chinese
jet... as only five of those orders are firm, with the other 20
aircraft on option. Deliveries to GECAS will begin in 2013,
according to CACC.
Not by coincidence, the ARJ21 is powered by a variant of the GE
Aircraft Engines' CF34 turbofan... which Indoswiss Aviation analyst
Jim Eckes was quick to point out. "GE is doing business with
China," Eckes told Bloomberg. "If they didn't, they probably
couldn't sell engines" in the country.
CACC was formed in March 2008, as a result of the merger of
Chinese aircraft manufacturers AVIC I and AVIC II. With the GECAS
order, the company claims 208 orders and options for the ARJ21.
The company also plans to develop a larger "jumbo jet"... with
150 seats.
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