China Aviation Industry Corp. I, a state-run commercial and military aircraft maker, is planning an initial public offering for its commercial jet arm, a senior executive with AVIC I said.

General Manager Lin Zuoming said AVIC I Commercial Aircraft Co. could list in Hong Kong or the U.S. He said he would like the IPO to happen "as soon as possible," without giving a specific timeframe.

AVIC I Commercial Aircraft, part-owned by AVIC I, is leading the program to develop the ARJ21, a 70- to 100-seat jet for use on short routes.