Aviation shares lift off on Aero Engine debut

Giant new State-owned conglomerate to give massive boost to industry, according to analysts

Share prices of three related aviation companies lifted off on Monday, after the formal establishment in Beijing on Sunday of Aero Engine Corp of China, the new State-owned conglomerate to develop aircraft engines - a development which analysts said will extensively boost the country's aviation industry.

AVIC Aviation Engine Corp, Sichuan Chengfa Aero Science and Technology Co Ltd, and AVIC Aero Engine Controls Co Ltd, saw their shares jump 2.78 percent, 2.77 percent, and 1.33 percent, respectively, by the close of trading on Monday.