Commercial Aircraft Corp of China (Comac), China’s state-owned airplane manufacturer, said its first plane will be less expensive than models from Boeing and Airbus, Bloomberg reported. Comac’s single-aisle 168-seater C919 will use up to 15% less fuel than the Boeing 737s and Airbus A320, making it less expensive to operate. Analysts said that the C919’s lower cost will certainly be an advantage for the company in the medium to long-term as there will be a demand for new aircraft both inside and outside China. Boeing has estimated that Chinese airlines will require 3,710 new planes over 20 years of which 70% will be single-aisle aircraft. The C919’s release date in 2016, is also set to concide with a global aircraft purchasing blitz as many airlines resume purchasing plans that have been delayed by the global economic downturn.