10:12 AM EST - Bombardier Aerospace : reports that they are teaming with China Aviation Industry Corp. to develop 90-to 149-seat regional aircraft. In a long-term agreement, state-owned AVIC said Monday it plans to invest US$400 million US for research and development, construction of new facilities and equipment for Bombardier's proposed CSeries aircraft program. And Montreal-based Bombardier said it will invest US$100 million in AVIC's five-abreast ARJ21-900 project. "With the implementation of this agreement, both AVIC and Bombardier are expected to experience long-term benefits related to the exchange of technical expertise and the expansion of our market potential, both in the higher end of the regional aircraft market and lower end of the mainline market," Pierre Beaudoin, president and chief operating officer of Bombardier Aerospace, said in a release. "For regional airlines, the addition of the ARJ21-900 to the market offering will complement our Bombardier CRJ family of aircraft." Bombardier Aerospace
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