Intellectual Thoughts by Sanjay Panda: China to manufacture Jumbo jets

China to manufacture Jumbo jets

China has established a homegrown company to make passenger jumbo jets, state media reported Sunday -- a step forward in the country's quest to become less dependent on Boeing and Airbus.

China Commercial Aircraft Co. was established in Shanghai with registered capital of 19 billion yuan $2.7 billion, the official Xinhua News Agency said.It said the central government and the Shanghai government are among the major shareholders, as are China's two main aircraft manufacturing and servicing companies, China Aviation Industry Corp. I and China Aviation Industry Corp. II, which were split off from state-owned China Aviation Industry Corp. in 1999.

Europe's Airbus has forecast that China's domestic market will increase fivefold by 2026. Airbus and Chicago-based rival Boeing dominate the market for commercial airplanes carrying 100 or more people.Xinhua said Commercial Aircraft Co. will be able to make planes with more than 150 seats.

According to the development history of Airbus and Boeing, the development and success of civil planes cannot be realized by relying on one or two generations. Considering the past records lets see how sucessfull they are in this sort of venture where there is no scope on compromising quality.

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