An upstart Chinese rival is about to make life for Airbus and Boeing a lot more difficult, at least according to Michael O’Leary, chief executive of Ryanair.
In assisting the Commercial Aircraft Corp of China, or Comac, on the development of a new commercial jet, Mr O’Leary has seen first-hand the vast investment that Beijing is making to break into the ranks of the world’s elite aircraft manufacturers.
“The Chinese will take a huge amount of orders away from Airbus and Boeing overnight, which will create significant turmoil in the marketplace,” he predicted last year.
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