PARIS - China Aviation Industry Corp (AVIC) and Bombardier Aerospace announced Monday an agreement for a long-term strategic cooperation in the five-abreast, 90- to 149-seat commercial aircraft market.
Under the agreement, Bombardier will participate in the development of AVIC’s five-abreast ARJ21-900 aircraft.
Bombardier will invest approximately $100 million in the ARJ21-900. AVIC, as part of its goal to become an international Tier 1 structural supplier, will $400 million for research and development, construction of new facilities and equipment.
“In recent years, AVIC and Bombardier Aerospace have worked together to establish a strategic business relationship that allows us to effectively evaluate current projects, identify areas of mutual collaboration and explore future endeavors that will further develop this relationship of cooperation,” said Lin Zuo Ming, President, AVIC.
