China's largest aircraft engine maintenance firm jointly funded by China Eastern Airlines (NYSE: CEA, SHA: 600115, HKG: 0670), the nation's third biggest carrier, and US-based Pratt & Whitney, one of the world's largest aircraft engine manufacturers, has been put into use. Shanghai Pratt & Whitney Aircraft Engine Repair Co, which covers 25,555 m2 and cost $99 million with Eastern Airlines holding a 51% stake, is able to service 300 engines annually for major models like the Airbus A320 and the Boeing 737 within three years. "It is expected to repair 50 engines for Eastern Airlines a year, saving it $25 million," said Eastern Airlines vice manager Li Yangmin. "Orders from Eastern Airlines make up 50% of the repair house's business for the time being and this percentage will decline in the future."
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