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| AFX News · Aktuelle AFX News Nachrichten · Archiv |
| 14.03.2005 07:59 |
Chinese aircraftmaker AVIC I aims for stockmarket listing overseas - report |
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Liu Gaozhuo did not provide a timetable for the IPO, but said it will take place after the firm succeeds in attracting domestic strategic investors. AVIC I makes small military and commercial planes as well as aircraft components for Airbus and Boeing. Liu told the paper that the firm secured six orders for its proprietary 70-90 seat regional jet ARJ21 which is scheduled for commercial launch by 2007, and expects to received 10-15 more orders this year. Due to heavy up-front investment in civil aircraft manufacturing, AVIC I will continue to operate in the red this year, he said, adding that the company may break even by 2010. China has one other state-owned aircraft maker -- China Aviation Industry Corp II (AVIC II). AVIC II produces the regional EMB-145LR jet jointly with Brazil's Empresa Brasileira de Aeronautica SA (NYSE ERJ). AVIC II's unit AviChina, in which European Aeronautic Defence and Space Co holds a five pct stake, floated its shares in Hong Kong in late 2003. (1 usd = 8.3 yuan) yan.fang@xinhuafinance.com fy/ap/dk For more information and to contact AFX: www.afxnews.com and www.afxpress.com © 2010 AFX News |
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