GE in China Jet Deal

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ZHUHAI, China -- China's main aircraft maker won its first order from overseas, with General Electric Co. expected to finalize a deal for five Chinese-designed regional jets and an option to buy 20 more, people familiar with the situation said.

The deal, which could be valued at as much as $750 million if all the jets are purchased, is seen as a significant step by China to try to cut into the global aerospace market dominated.

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Reuters/China Daily
ARJ21-700 jets, with an option to buy 20 more. The ARJ21 is a key step in China's bid to develop an aerospace industry able to compete in the world-wide aircraft market.
Mike Wilking, head of GE's aviation sales for China, said leasing unit GE Commercial Aviation Services plans to sign a contract Tuesday with Commercial Aircraft Corp. of China Ltd. for five 70-seat ARJ21-700s. The deal, coming together at the Zhuhai air show in southern China, will include an option to buy an unspecified additional number of the aircraft.

GE plans to lease the aircraft to China's domestic airline companies to be used within China, Mr. Wilking said. GE supplies engines for the ARJ21. The Chinese plane is expected to enter service next year.

Regional jets are smaller commercial planes, with a range of around 2,000 miles. By choosing to start with a smaller jet, China will stay out of the competitive sights of Boeing Co. and Airbus for now, instead going up against Canada's Bombardier Inc. and Brazil's Empresa Brasileira de Aeronáutica SA.

China still faces the bigger test of finding foreign customers who aren't involved in the jet project. Eventually, the country intends to produce larger airliners, including a 150-seater jetliner, to compete directly with Boeing and Airbus by 2020.

For GE, providing engines to the planes and leasing them serves as a prime entry to the budding Chinese aviation industry and a way to stay ahead of its rivals Pratt & Whitney, a unit of United Technologies Corp., and Rolls-Royce Group PLC in making engines for regional jets. GE expects to sell about $4 billion in engines over the next 20 years to Commercial Aircraft Corp. of China.