Japan’s Mitsubishi Aircraft stated Thursday it is going to delay the first delivery of its SpaceJet regional jet for no less than another year until after March 2021.
The sixth suspension is another strike to Japan’s commercial jet plans. It will further elevate the development cost of a plane that its manufacturer’s chief shareholder Mitsubishi Heavy Industries had planned to bring to market in 2013.
The “first commercial delivery of SpaceJet is anticipated to be in the financial year 2021 or later,” Mitsubishi Heavy mentioned in a statement Thursday when posted its earnings for the quarter ending December 31. The corporate additionally said it’ll book a 496.4 billion yen ($4.51 billion) special loss associated with the SpaceJet subsidiary.
ANA Holdings, Japan’s greatest airline by revenue, is scheduled to take the first delivery of the plane.
When the SpaceJet enters the field, it will compete against a new technology of regional jets developed by Brazil’s Embraer. Embraer is selling the bulk of its commercial jet business to Boeing in an agreement that also needs final regulatory permissions.
Mitsubishi also Thursday stated it had named Takaoki Niwa, the head of its U.S. operations, as Mitsubishi Aircraft’s new president, replacing Hisakazu Mizutani, who will turn into chairman.