Sino-Russian JV Targets Delivery of 1000 CR929 Jets by 2045

China-Russia Commercial Aircraft International Corporation (CRAIC) projects delivery of 1,000 CR929 250-to-350 seat wide-body twinjet airliners by 2045.

"The project of CR929, first long-range wide-body jetliner jointly developed by China and Russia, moves forward steadily, with a total of 1,000 expected to be handed over between 2023 and 2045," chief Chinese designer Chen Yingchun said at an aviation summit in Hangzhou Wednesday.

CRAIC is a 50-50 joint venture between Chinese Comac and Russian United Aircraft Corporation (UAC) tasked with the development of the plane. The project is expected to cost around $10 billion. CRAIC opened an office in Shanghai in May 2017, targeting a 2025-2028 maiden flight and first delivery. It aims to take 10% of a market dominated by Boeing and Airbus of 9,100 widebodies over 20 years through 2035, with a plane 10-15% cheaper to run.