COMAC and UAC to establish wide-body joint venture

Commercial Aircraft Corporation of China (COMAC) and United Aircraft Corporation of Russia (UAC) have held an establishment ceremony for the Long Range WideBody Commercial Aircraft Program joint venture, named China-Russia Commercial Aircraft International (CRAIC), on May 22nd, 2017. The main responsibility of CRAIC is to develop a new generation long range wide body commercial aircraft and take charge of its commercial operation. Under the depth development of China-Russia comprehensive strategic cooperative partnership, the long-range wide body commercial aircraft is a major strategic and pragmatic cooperation between Chinese and Russian enterprises in the field of high-tech development. On June 25, 2016, under the testimony of President Xi Jinping and President Putin, COMAC and UAC have signed a joint venture contract. At present, the two companies have completed the industrial and commercial registration process with a business license. The name of this joint venture is China-Russia Commercial Aircraft International (CRAIC), based in Shanghai.