Canadian aircraft maker Bombardier Aerospace (TSX:BBD.A) and the Commercial Aircraft Corporation of China Ltd (COMAC
) have formed a long-term strategic cooperation on commercial aircraft, the two companies announced on Thursday.
With this deal, Safran aimed to increase its role in the development of the planned COMAC
C919 aircraft, the company said.
Even if COMAC
confines its ambitions to its home country, it will capture market share that would otherwise have gone to Boeing or Airbus.
was set up in May last year, charged with developing a large aircraft that one day can compete with planes from Airbus and Boeing.
has a 40 percent with an investment of $22 million.
Chengdu Airlines declined to comment on the report, while a COMAC
spokesman could not be reached.
Elbit Systems of America, LLC, a wholly owned subsidiary of Elbit Systems Ltd., said it has been selected by the Shanghai Avionics Corporation (SAVIC) to provide the Kollsman Enhanced Vision System-Superior Performance (EVS-SP(TM)) for the COMAC
The last step is to complete the airworthiness tests and to obtain the airworthiness certification," said He Dongfeng, Comac
's president, in a statement to the FT.
In a 2011 Distressed Debt report by Ernst & Young, it was noted that “…distressed investors who stay active in the game are finding more success.” Many, including COMAC
, believe that even more assets will become available off market in the Q3 and particularly Q4 of 2011 and will continue into 2012.
It will also serve as a tier one supplier to COMAC
on that programme.