Press: China’s AVIC I to set up airline this year

China Aviation Industry Corporation I (AVIC I), the country’s biggest aircraft maker, plans to set up an airline company this year, the official Shanghai Securities News reported, citing an AVIC I official. The newspaper quoted Lin Zuoming, general manager of AVIC I, as saying that the new airline will be jointly established by AVIC I and strategic investors.

Airlines and investment companies will be considered as strategic investors, the report said.

Separately, AVIC I is also preparing to bid for a general aviation company in North America, it added.

According to other media reports, the Chinese government has already approved a proposal by AVIC I to bid for six Airbus plants in Europe.

At the Paris Air Show Lin said the company will bid for six Airbus plants in Europe being disposed of in a restructuring, as it positions itself to become a major supplier to Airbus.
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