AVIC General Aviation scouts for stakes in foreign firms

AVIC General Aviation Co Ltd is seeking equity participation in a foreign general aviation aircraft manufacturer to strengthen its development capabilities and to explore the overseas market, a senior company executive said yesterday.

"We are now talking to several foreign companies. We might completely acquire (a company) or take a controlling stake. We hope to reach an agreement by the end of this year," said Tan Weidong, president of AVIC General Aviation Co Ltd, without revealing the names of the firms.

AVIC General Aviation also plans to list within the next three years, Tan said.