C919 is expected to achieve a breakthrough from 0 to 1 by COMAC's domestic large aircraft within the year

　　C919 is expected to achieve a breakthrough from 0 to 1 by COMAC's domestic large aircraft within the year

　　It is understood that the C919 aircraft will obtain a civil aircraft airworthiness certificate within this year and deliver it to its first customer, China Eastern Airlines

　　Our reporter Li Qiaoyu

　　This year, domestic passengers may have the opportunity to take the C919, a large civil jet aircraft developed by my country and with independent intellectual property rights.

　　Recently, it was reported that on the special date of September 19, the Civil Aviation Administration of China will issue an airworthiness certificate for the C919 in Beijing, after which the aircraft can be delivered to operators and put into commercial flight.

Prior to September 13, two C919 planes arrived in Beijing from Shanghai, or intended to prepare for evidence collection.

In addition, according to Wu Guanghui, academician of the Chinese Academy of Engineering and chief designer of the C919 large passenger aircraft series, COMAC has completed the test flight task before the C919 aircraft is certified, and will obtain the civil aircraft airworthiness certificate within this year and deliver it to the first customer - China Orient aviation.

　　The reporter of Securities Daily also learned through multiple interviews that the countdown to the certification and official delivery of the C919 aircraft has entered into the countdown.

　　Possibility to fly international routes

　　On August 1 this year, COMAC released a poster of the domestic large aircraft C919 on its official WeChat account. From the success of the first flight to the hardships of completing the forensic test flight.

　　It is reported that as early as May 5, 2017, the C919 aircraft successfully made its first flight.

From the successful first flight to the certification test flight, the C919 has been waiting for up to five years.

According to Qi Qi, associate professor of Guangzhou Civil Aviation Vocational and Technical College, C919 plays an important role from 0 to 1 in the history of my country's aviation.

For the aircraft manufacturer COMAC, the C919 design is advanced enough to adapt to five years of technical iteration; for the Civil Aviation Administration, ensuring aviation safety remains the most important goal.

The five-year airworthiness process is also a process of continuous integration of market demand and new technologies, and a process of continuous growth of domestic large aircraft.

　　Qi Qi told the "Securities Daily" reporter that the successful evidence collection means that the C919 has reached the delivery standard. Therefore, with the successful evidence collection of the C919, the delivery will also be a matter of course.

The specific timing of the follow-up C919 commercial flight will depend on the supporting infrastructure of the airline and the running-in situation with the C919.

　　"The first customer of C919 is China Eastern Airlines. From the past experience, China Eastern Airlines and COMAC have cooperated many times before. It is believed that China Eastern Airlines has made arrangements for the work of C919 COMAC in advance, and the time from delivery to COMAC will not be too long. Long." Qi Qi said.

　　Gao Peng, a practitioner in the civil aviation industry, told the "Securities Daily" reporter that as long as the aircraft obtains an airworthiness certificate, it means that the aircraft fully meets the requirements of commercial operations and can be put into commercial flight operations at any time; from the airline's experience, the first-time aircraft models are delivered Afterwards, it is necessary to complete the emergency evacuation drill stipulated by the Civil Aviation Administration, and arrange for the crew to familiarize themselves with the cabin environment and pre-flight preparations. It can be put into operation within a few days at the earliest. The airline will also arrange when it will be put into operation according to the actual situation.

　　It is worth mentioning that obtaining an airworthiness certificate from the Civil Aviation Administration means that the C919 is expected to fly not only domestic routes but also international routes.

An industry insider who did not want to be named told the "Securities Daily" reporter that in theory, as long as the other country recognizes the certification of the Civil Aviation Administration of my country, the C919 can be flown to and exported to relevant countries.

In view of the fact that my country has signed bilateral air transport agreements with some countries, C919 can theoretically fly some international routes.

　　Companies related to the industry chain may benefit

　　"Successful forensics is just the beginning, COMAC's next task is to achieve mass production." Qi Qi said.

　　As the delivery of the C919 is approaching, the popularity of large aircraft concept stocks in the secondary market is also increasing.

According to Flush data, as of the close on September 16, the Large Aircraft Concept Index has risen 10.32% since the second half of this year; the Shanghai Composite Index fell 1.88% over the same period; the Shenzhen Component Index fell 2.31%; the ChiNext Index fell 1.57%.

　　On the investor interaction platform, keywords such as C919, large aircraft and COMAC have also become popular keywords that investors pay close attention to.

A number of listed companies that have not directly cooperated with COMAC were also asked whether they had the opportunity to cooperate with C919.

　　Qi Qi believes that it will take some time for a large aircraft to go from concept to industry. Although the market is confident that the first C919 will be delivered within this year, it will take some time to achieve large-scale delivery.

Qi Qi suggested that investment in large aircraft concept stocks should be cautious, and the real investment value of relevant listed companies should be judged based on the delivery volume.

　　"Aircraft delivery is a long-term process." Zhao Xin, CFO of Zhongguancun e-Valley, told the "Securities Daily" reporter that even if my country's large aircraft suppliers can quickly achieve mass production, the supporting service system will take time to improve.

At present, COMAC has accumulated experience and supporting systems in the previous delivery process of ARJ21, but the construction of service, after-sales and maintenance systems for C919 still requires a long-term process.

　　Zhao Xin believes that the goal of COMAC in the future is to form a three-pronged competition with Boeing and Airbus. In its development process, companies related to the industry chain may further benefit, and large aircraft concept stocks are expected to expand.