China's First Private Aircraft Maker to Export 150 Planes

(Xinhua)
Updated: 2006-11-08 09:16

The Xi'an Phoenix Aircraft Manufacture Corporation, China's first privately-run aircraft maker, signed on Tuesday a deal to export 150 CH-2000 aircraft valued at 37.5 million U.S. dollars.

The deal was sealed with GPA Foundation, a Delaware-based charity organization.

GPA has paid a deposit of 10 million U.S. dollars to Phoenix but the delivery date is yet to be decided, said Yang Qi, manager of the corporation.

The CH-2000 is a two-seat airplane that has received aviation certificates in 27 countries.

According to the contract, the aircraft will be used in Argentina's general aviation.

Established in October this year in Xi'an, capital of northwest China's Shaanxi province, Phoenix is a joint venture with Zenair, a Canadian-owned company.

Phoenix is mainly engaged in production of CH701 and CH2000 planes, both designed by Zenair, and it produces 60 airplanes annually.

GPA, established in 1988, is partly funded by Rockfeller Foundation and San Paolo IMI Bank.