Caixin
May 12, 2022 08:32 PM
BUSINESS

China-Developed C919 Jet to Cost Twice the Expected Price, Filing Shows

A China Eastern Airlines A350 sits parked at Guangzhou Baiyun International Airport on Aug. 28 in Guangzhou, South China’s Guangdong province. Photo: VCG
A China Eastern Airlines A350 sits parked at Guangzhou Baiyun International Airport on Aug. 28 in Guangzhou, South China’s Guangdong province. Photo: VCG

A China-developed jetliner that Beijing hopes will rival those of Boeing and Airbus is going to cost nearly twice the price anticipated.

In a Tuesday filing to the Shanghai Stock Exchange, China Eastern Airlines Corp. Ltd. said that it is planning to raise capital to buy four C919 aircraft from China’s state-owned aerospace giant Commercial Aircraft Corp. of China (COMAC). Each jet is listed for a price of 653 million yuan ($99 million).

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