Plane maker, airline float new carrier

China Aviation Industry Corp I (AVIC I) has entered into a joint venture with China Eastern Airlines for a regional carrier that will begin operating in the first half of next year, a senior AVIC I executive said yesterday.

The regional airline will be headquartered in western China, with AVIC I holding 60 percent of its stakes, AVIC I Senior Vice-President Hu Wenming said.

The carrier will have a registered capital of 1 billion yuan ($129 million), and an initial fleet of at least 10 MA60 aircraft, manufactured by AVIC I.