Mitsubishi Heavy exec: timing not right for decision on passenger jet market

TOKYO - A Mitsubishi Heavy Industries executive said Thursday that despite the government's commitment to made-in-Japan aircraft, now is not the time to decide whether to re-enter the commercial airplane market, after the failure of the SpaceJet.

Japan's industry ministry, however, this year said it would carry on a 4 trillion yen public-private project to create a next-generation passenger aircraft after 2035.Mitsubishi Heavy would like to discuss concrete steps on the future aviation strategy with the government, but "we're now in a phase to lay the groundwork for that, and not in the timing to decide on whether to resume the aircraft assembly business," Koguchi told an annual shareholder meeting.

Airbus stock dropped 11% after it announced reduced delivery targets for its planes, and pushed back the date for increased A320neo output.U.S. oil and gas companies could face an uphill struggle to sell about $27 billion of assets to fund investor payouts over the next few years as the biggest wave of energy megamergers in 25 years nears the end of regulatory reviews. Energy stocks represent just 4.

Source: News Formal (newsformal.com)

Spacejet Commercial Airplane Hiroyuki Koguchi Technology Developed Commercial Aviation

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