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ECONOMY

MHI to freeze development of regional jet

  • October 23, 2020
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  • JMH Summary

Nikkei led with a report saying that Mitsubishi Heavy Industries (MHI) is making final arrangements to freeze its program to develop the first domestically manufactured small passenger jet, known as SpaceJet. The paper wrote that although MHI had planned to deliver the first SpaceJet as early as fiscal 2021 and All Nippon Airways, Japan Airlines, and other carriers have ordered about 300 of the 90-seat-class jets, the company made the decision to halt the development based on the view that it will be difficult to generate profits from the jet business due to a global slump in air travel owing to the coronavirus pandemic. All other national dailies ran similar reports.

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