Deliveries of Mitsubishi's SpaceJet face fresh delay – Nikkei

(Reuters) – Japan’s Mitsubishi Aircraft Corp is seeking to postpone deliveries of its SpaceJet regional airplane as it battles delays in securing regulatory certification, with one option being a six-month delay from a mid-2020 target date, the newspaper said.

Such a delay would be the sixth for the programme, which aimed to revive Japan’s dormant commercial aviation industry.

A new first delivery target date could be set next month, the paper said on Saturday, without citing a source. The plane, this year renamed the SpaceJet instead of the Mitsubishi regional jet, was originally due to enter service in 2013.

Jefferies analyst Sho Fukuhara said in a note to clients that the delays, if confirmed, could trigger market concerns about Mitsubishi Heavy Industries Ltd (T:), the planemaker’s largest shareholder.

Mitsubishi Heavy told the stock exchange on Monday that the planemaker was putting its “utmost effort” into completing certification and was sharing information about the schedule with all relevant parties. It did not provide an update on its delivery schedule.

ANA Holdings Inc (T:), Japan’s largest airline by revenue, is due to be the first customer for the plane.

Nikkei said the manufacturer would probably begin to hash out compensation for the delay, which would push the entry into service beyond the Tokyo Summer Olympics next year.

ANA did not respond immediately to a request for comment on Tuesday, a public holiday in Japan.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

READ  U.S. shares lower at close of trade; Dow Jones Industrial Average down 1.69%

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Please enter your comment!
Please enter your name here