Date
23 January 2017
The ARJ21 has General Electric engines and a maximum range of 2,225 kilometers for the standard model. Photo: Xinhua
The ARJ21 has General Electric engines and a maximum range of 2,225 kilometers for the standard model. Photo: Xinhua

China plane maker bags order from aircraft leasing group

Chinese state-owned plane maker Comac won an order from a local lessor for as many as 60 ARJ21 regional jets in a deal that may be valued at US$2.3 billion in list prices.

China Aircraft Leasing Group Holdings Ltd. (01848.HK) agreed to purchase the aircraft, which will operate in Indonesia, Bloomberg reports, citing a statement of the plane-leasing company to the Hong Kong stock exchange.

China Aircraft Leasing didn’t identify the Indonesian airline.

The order win is key for Commercial Aircraft Corp., popularly known as Comac, after the Advanced Regional Jet made its first commercial flight last month.

Development of the 90-seater plane, the nation’s first passenger jet, was plagued by delays in getting certification.

Shanghai-based Comac is also building the larger C919 single-aisle jet to break the stranglehold of Airbus Group SE and Boeing Co. in the market for planes with more than 150 seats.

Friedmann Pacific Asset Management Ltd. will invest in an aircraft operator in Indonesia as part of the deal, China Aircraft Leasing said in the statement. Friedman is the lessor’s second largest shareholder.

The ARJ21, which competes with Bombardier Inc. and Embraer SA aircraft, has General Electric Co. engines and a maximum range of 2,225 kilometers (1,400 miles) for the standard model, according to Comac’s website.

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