China Aviation Industry General Aircraft Co Ltd.(CAIGA) sign deal in France

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July 2, 2015 - Local time 12:30 in France, China Aviation Industry General Aircraft Co Ltd.(CAIGA) signed a strategic cooperation agreement with Flying Whale(France) Holdings (FWF) during the Sino-France Industry and Commerce Summit in Toulouse, France, looking at co-investing and forming a joint venture, working together on heavy load airship projects. The new company is to be headquartered in Paris, France.

Qu Jing Wen, General Manager of CAIGA and Sebastian Boughon, President of FWF, signed the agreement representing their corresponding companies. Chu Lin Tang, Assistant to General Manager of CAIGA, as well as other personnel from GAIGA headquarters attended the signing ceremony. It is reported that, the joint venture of CAIGA and FWF will carry out research and development, marketing and services globally related to heavy load airship towards global communication and transportation market. This cooperation will take full advantage of the valuable resources of both companies in marketing, technology, capital, and policy areas of heavy load airships, and provide economical and effective solutions for communication and transportation sector of both countries, and even the international community; At the same time, it will build up the capacity of both companies in lighter-than-air flying vessel research and development, strengthen core competitiveness of both companies in accessing and serving international market.

According to Qu Jing Wen, the development of lighter-than-air flying vessel has specifically been included in the mid-long term development plan of the Chinese aviation industry, and it is one of the strategic development areas of CAIGA. Regarding “Thirteenth Five Year Plan”, CAIGA will actively make full use of its advantages in many areas related to lighter-than-air flying vessel, build up an industry base for large scale lighter-than-air flying vessel via a “Three Step” strategy. First is to research and develop 60-ton class heavy-load airship via international cooperation, and carry out sales and services toward international market; Second is to provide for the development of passenger airship, in order to meet the urgent demand in for example domestic flight tourism market, and establish an industrial scale; Third is to consolidate and develop matured projects like tethered balloon, expand market space for special purpose products, and to finalize the product portfolio of lighter-than-air flying vessels. This partnership with FWF is the first step of CAIGA on its implementation of the lighter-than-air flying vessel development plan.

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