Just announced in Wired magazine, the Chinese government has provided 2.7 billion dollars to establish an aircraft manufacturing company to manufacture large jetliners. This is an attempt at becoming less dependent on foreign companies like Boeing and Airbus for really large capacity planes.
The first attempts by the China Commercial Aircraft Company will be to build an aircraft of 150 seats. As of the press announcement, no formal date for the first flight was announced. It was stated that it would take some time for the talent to be aggregated and the first designs to be completed.
European-builder Airbus has stated that Chinese domestic flights will increase by 500% from now to 2026, so it is only natural for them to have a larger aircraft industry.
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[tags] Wired, Airbus, Boeing, China Commercial Aircraft Co. [/tags]