Chinese, Russian plane makers launch JV to build super jet

A joint venture has been announced between the Commercial Aircraft Corporation of China (COMAC) and United Aircraft Corp (UAC) of Russia.

A model of a jetliner is displayed at the launch ceremony of the China-Russia Commercial Aircraft International Corporation Limited in Shanghai on May 22, 2017. CRAIC is a joint venture between the Commercial Aircraft Corporation of China (COMAC) and United Aircraft Corporation (UAC) of Russia. [Photo: sina.com.cn]

The two have announced on May 22, 2017, the creation of the China-Russia Commercial Aircraft International Corporation Limited (CRAIC), with a goal of engineering a new wide-body jetliner dubbed the "C929."

The jetliner is reportedly being designed to compete with Boeing's 787 Dreamliner and the Airbus 350, which currently dominate the global wide-body airplane market.

COMAC Chair Jin Zhuanglong said the launch of the joint venture represents remarkable progress in the company's wide-body jet program.

"COMAC will cooperate fully with UAC to make the program a 'role model' in China-Russia cooperation."

In June, 2016, COMAC and UAC signed an agreement to establish the joint venture during Russian President Vladimir Putin's visit to China.

The jetliner program was first conceived in 2014, Reuters reports.

The wide-body jetliner is being designed to accommodate 280 seats, and will have a range of up to 12,000 kilometers, according to COMAC.