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Mitsubishi to freeze development of SpaceJet regional jet

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Japan's Mitsubishi Heavy Industries Ltd 7011.T plans to freeze development of its Spacejet regional jet as the coronavirus pandemic erodes its finances and that of the aerospace industry, two people with knowledge of the decision said on Thursday. One of the sources said the plan would be announced along with a medium-term business plan on Oct. 30. The sources declined to be identified because the plan is not yet public. (www.nasdaq.com) More...

Tobin Sparfeld
Maxed OutPromoterAnnouncer

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sparkie624
sparkie624 4
WOW... But they stuck their foot in their mouths when they renamed to the space jet and got rid of the smaller plane... They had US Orders confirmed and they flushed it down the toilet.
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jptq63
jptq63 2
Tough time to be selling (and building) new planes, even if they are more efficient, it still takes money (& time) to buy and evaluate a company's performance. I am presuming here the company is a "for profit" and not part of government....
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sparkie624
sparkie624 1
Takes a lot of time to recoop those costs to be sure...
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