China AVIC to shift assets to Xi'an Aircraft

Aviation Industry Corp of China (AVIC), a recently incorporated state aircraft maker, plans to inject major commercial aircraft assets into Xi’an Aircraft International to boost its competitiveness.

AVIC Executive Vice President Geng Ruguang said the assets will include Chengdu Aircraft and Shenyang Aircraft.

He described them as premium assets but did not give an estimate of their worth, saying they still needed to be assessed. He also did not give a timetable for the transfer.

He said, ‘We want to do it as quickly as possible, but we first need to evaluate these assets we want to fold into Xi’an Aircraft.’
Source: Reuters