ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Business trends

Mitsubishi Heavy injects another $1.9bn into struggling jet

CEO says this is the 'last time,' while forgiving 50bn yen worth of debt

The MRJ's delivery has been delayed five times, from its initiative target year of 2013 to mid-2020.

TOKYO -- Japan's Mitsubishi Heavy Industries is injecting $1.9 billion of capital into its struggling Mitsubishi Regional Jet program, which has accumulated serious debts as a result of repeated delays in the aircraft's development.

Chief Executive Shunichi Miyanaga insisted this injection would be the "last time" for the development as the new jet would meet its delivery date in mid-2020 as scheduled. He also downplayed the impact of a recent lawsuit filed by the company's Canadian rival Bombardier. Still, concerns persist that the lawsuit could further push back its current delivery plan.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more