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CHINA EASTERN AIRLINES CORPORATION LIMITED

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China regulator says more testing needed to certify C919 aircraft

12/02/2021 | 11:06pm EST
FILE PHOTO: The fifth prototype of China's home-built C919 passenger plane takes off for its first test flight from Shanghai Pudong International Airport in Shanghai

BEIJING/SYDNEY (Reuters) - China's aviation regulator said on Friday that there is still a huge amount of testing to be done for the home-grown narrowbody C919 aircraft to be certified, raising doubt over planemaker COMAC's year-end target.

So far, the C919, China's attempt to rival Airbus SE and Boeing Co, has completed only 34 certification tests out of 276 planned, Yang Zhenmei, a Civil Aviation Administration of China (CAAC) official, told reporters.

Reuters in September reported COMAC has found it harder to meet certification and production targets for the C919 amid tough U.S. export rules, according to three people with knowledge of the programme.

China Eastern Airlines Corp Ltd said in August it expected to receive its first C919 by the end of the year, but that would require the model to be certified.

COMAC is years behind its initial certification schedule and it did not take the C919 to China's biggest air show in Zhuhai in September.

C919 Chief Designer Wu Guanghui last month recommended CAAC continue to focus on certification as a priority for next year and asked it to step up resources to help with the delivery and commercial operations of the plane.

(Reporting by Stella Qiu in Beijing and Jamie Freed in Sydney; Editing by Kim Coghill)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE 0.97% 116.88 Real-time Quote.3.13%
CHINA EASTERN AIRLINES CORPORATION LIMITED 2.70% 5.32 End-of-day quote.3.10%
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Analyst Recommendations on CHINA EASTERN AIRLINES CORPORATION LIMITED
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Financials
Sales 2021 74 747 M 11 775 M 11 775 M
Net income 2021 -11 155 M -1 757 M -1 757 M
Net Debt 2021 175 B 27 541 M 27 541 M
P/E ratio 2021 -7,95x
Yield 2021 -
Capitalization 86 547 M 13 623 M 13 634 M
EV / Sales 2021 3,50x
EV / Sales 2022 2,39x
Nbr of Employees 81 157
Free-Float 38,8%
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Number of Analysts 15
Last Close Price 5,32 CNY
Average target price 5,11 CNY
Spread / Average Target -4,02%
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Managers and Directors
Zhou Qimin Chief Financial Officer & Vice President
Shao Yong Liu Chairman
Lijun Guo Chairman-Supervisory Board
Xue Bo Dong Independent Non-Executive Director
Hong Ping Cai Independent Non-Executive Director