Orders decline at Xi'an Aircraft

AVIC Xi'an Aircraft Industry (Group) Co Ltd plans to boost sales of Modern Ark 60 passenger planes globally after the company stated a reduction in orders would likely reduce its net profitability by 70% in 2011 (Shanghai Daily, 01-Jul-2011). The company delivered two MA60 aircraft to Okay Airways on 30-Jun-2011, increasing its MA60 deliveries to 61. A further 120 aircraft are still on order. The manufacturer reported a CNY51.3 million (USD7.9 million) loss in the four months to Apr-2011.