AVIC Aircraft Corporation Ltd., a major subsidiary of China’s top aircraft manufacturer Aviation Industry Corporation of China (AVIC), will go public.This was part of AVIC Aircraft’s plan to complete an overall listing by 2011 amid a restructuring of China’s aviation industry.
Hu Xiaofeng, general manager of the AVIC Aircraft, said the company planned to complete the asset restructuring by the first quarter of next year and use Xi’an Aircraft International as the platform for the listing.
AVIC Aircraft will inject assets worth RMB8 billion (about $1.2 billion) into Xi’an Aircraft International.
Xi’an Aircraft International manufactures the MA600 turboprop regional aircraft, seen here. It is expected to be a parts supplier to China’s homemade large passenger plane, the C919.
China View states that AVIC Aircraft’s key businesses include the design, production, marketing and servicing of large and medium-sized transport aircraft, passenger aircraft and aircraft landing gear systems.