28 Jun 2021

China Aviation Industry Newsletter 28 June

Airbus, AVIC jointly launch A320 fuselage equipping project in China An Airbus A320 fuselage equipping project was jointly launched by Airbus and the Aviation Industry Corporation of China (AVIC) in Tianjin. The project will complete the fuselage assembly work of the A320 Family aircraft by installing, and thereafter testing the large fuselage parts and the internal system components, which are transported from Europe. The Airbus A320 fuselage equipping project was undertaken by AVIC Xi'an Aircraft International (Tianjin) Corporation (AVIC XAT), a subsidiary of the AVIC Xi'an Aircraft Industry Group Co., Ltd. AVIC XAT Chairman Ma Yan stated "The newly launched A320 fuselage equipping project is a new strategic cooperation between Chinese and European aviation industry players”. AstroNova Awarded Repair Station Certification from Civil Aviation Administration of China; Establishes New Business Entity in Singapore AstroNova announced that the Civil Aviation Administration of China (CAAC) has certified the Company’s West Warwick, R.I. repair station to perform maintenance, repair and overhaul (MRO) services on flight deck printers and related components for customers with Chinese-registered aircraft. The repair station also holds certifications from the Federal Aviation Administration and the European Union Aviation Safety Agency. The Company also established a new entity, AstroNova Singapore Pte. Ltd., to facilitate business with customers in China and throughout the Asia-Pacific (APAC) region. CALC received a Ba1 corporate family rating from Moody’s for the first time with a stable outlook China Aircraft Leasing Group Holdings Limited announced that it has received a corporate family rating (CFR) of Ba1 and a foreign currency and local currency issuer ratings of Ba2 from Moody's Investors Service Pty Ltd (Moody's), with a stable outlook. The Company has previously received the highest AAA rating from Dagong Global Credit Rating Co., Ltd. Mr. Zhao Wei, Chairman of China Everbright Limited and CALC stated “This is the first time CALC obtain an overseas credit rating. In the environment where the Covid-19 pandemic across the world is posing acute challenges to the aviation industry, the ratings fully reflect the Company's leading industry position and the high recognition of the Company's stable business, premium creditworthiness and strong shareholder from a professional ratings agency. As CALC’s largest shareholder, China Everbright Limited is confident in the Company’s development prospects. We will continue to follow our strategic planning and support CALC with more adequate resources to drive it towards the goal of becoming a ‘world-leading full-industry-chain aircraft leasing service provider’, persistently creating value for investors and partners.” Kremlin Committed to CR929  China’s Comac and Russia’s United Aircraft Corporation (UAC) have shortlisted several suppliers for the CR929 widebody ahead of a planned first metal cutting this year, despite sagging prospects for widebodies in the context of the Covid pandemic. The program’s research and development effort has passed several milestones. In March, Russia’s Central Aerohydradynamics Institute (TsAGI) reported completion of yet another set of tests in the T-128 wind tunnel in Zhukovsky near Moscow, devoted to refining the jet’s wing featuring “sickle-like” tips. Acumen Aviation © 28 June 2021 All Rights Reserved.