- Title: China, Russia set up wide-body jet firm in new challenge to Boeing, Airbus
- Date: 22nd May 2017
- Summary: SHANGHAI, CHINA (MAY 22, 2017) (REUTERS) ****WARNING: CONTAINS FLASH PHOTOGRAPHY*** VARIOUS OF REPRESENTATIVES WALKING IN FOR LAUNCHING CEREMONY OF CHINA-RUSSIA COMMERCIAL AIRCRAFT INTERNATIONAL CORPORATION LIMITED (CRAIC) SCREEN READING (Chinese and Russian): "LAUNCHING CEREMONY OF CHINA-RUSSIA COMMERCIAL AIRCRAFT INTERNATIONAL CORPORATION LIMITED" CHINESE REPRESENTATIVE GIVING SPEECH ON STAGE RUSSIAN REPRESENTATIVES SEATED AUDIENCE SEATED CAMERAMAN FILMING CHINESE AND RUSSIAN REPRESENTATIVES UNVEILING A BOARD READING (Chinese and Russian): "CHINA-RUSSIA COMMERCIAL AIRCRAFT INTERNATIONAL CORPORATION LIMITED (CRAIC)" CHINESE AND RUSSIAN REPRESENTATIVES SHAKING HANDS IN FRONT OF THE BOARD CHINESE AND RUSSIAN REPRESENTATIVES APPLAUDING ON STAGE VARIOUS OF JET MODEL ON DISPLAY EXTERIOR OF COMMERCIAL AIRCRAFT CORPORATION OF CHINA (COMAC) CHINESE NATIONAL FLAG AND COMAC FLAG FLYING SIGN READING (Chinese and English): "COMMERCIAL AIRCRAFT CORPORATION OF CHINA, LTD. (COMAC)" COMAC LOGO
- Embargoed: 5th June 2017 12:22
- Keywords: COMAC Boeing CRAIC launch wide-body jet Airbus China Russia joint venture
- Location: SHANGHAI, CHINA
- City: SHANGHAI, CHINA
- Country: China
- Topics: Company News Markets,Economic Events
- Reuters ID: LVA0016HX6SSN
- Aspect Ratio: 16:9
- Story Text:China and Russia on Monday (May 22) completed the formal registration of a joint venture to build a proposed wide-body jet, kickstarting the full-scale development of a programme that aims to compete with market leaders Boeing and Airbus.
State planemakers Commercial Aircraft Corporation of China (COMAC) and Russia's United Aircraft Corp. (UAC) said at a ceremony in Shanghai the joint venture would aim to build a "competitive long range wide-body commercial aircraft".
COMAC, which is increasingly looking to break the hold Boeing and Airbus have over the global commercial jet market, successfully completed the maiden flight of its home-grown C919 narrow-body passenger jet earlier this month.
UAC and COMAC hold equal shares in their venture.
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