Friday, March 23, 2012
Kansas-based business jet maker Cessna Aircraft Co. has signed agreements with Chinese partners to manufacture business jets in China and explore other aviation opportunities.
The company announced Friday it is joining with state-owned Aviation Industry Corp. of China and the municipal government of Chengdu.
"China has been a relatively small market till now, but there's obviously a big interest in the part of the government to see us as part of the transportation system," said Textron CEO Scott Donnelly.
The three hope to form a joint venture in the western China city to produce midsize Cessna business jets and possibly new models in
China is seen as the most promising major market for the industry.
The owner of Cessna, Textron Inc., says it expects significant growth in aviation in China. Aviation analyst Richard Aboulafia agrees, saying the partnership with China is a positive move for Cessna.
"It helps them to access a key new market which definitely helps them sell planes. And that helps make Cessna a stronger and healthier company," said Aboulafia.
The Associated Press contributed to this report.