| Chinese-made jet likely to be US$30m on market |
SHANGHAI, Apr. 18 -- China's first locally made regional commercial airplane may be priced at US$30 million, 15 percent lower than similar aircraft produced by its rivals, Beijing Business Today reported today, citing China Chamber of Commerce for Import and Export of Machinery and Electronic Products.
The price needs approval from China's aviation authorities, said an official of AVIC I Commercial Aircraft Co.
The aircraft, the ARJ21 had an initial investment of five billion yuan (US$647 million) for development and manufacturing and can carry 70 to 90 passengers. It has a flying range up to 2,225 kilometers.
Final assembly is planned to be completed by the end of this year and its maiden flight is earmarked for next March.
First delivery is planned in the third quarter of 2009 to Shandong Airlines, company officials said.
With 71 orders in hand from domestic firms, the company has now started an overseas marketing campaign.
"We hope to first gain a foothold in the domestic market and try to land overseas clients this year," said Chen Jin, vice president of AVIC I Commercial Aircraft Co.
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