Update 2: Mitsubishi Heavy's struggling aircraft unit to gain US$2 billion lifeline
Analysts said there were still questions over whether the jet project could deliver
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October 23, 2018 - by Takashi Umekawa for Reuters
Mitsubishi Heavy Industries (7011.T) is arranging 220 billion yen (US$2 billion) in financial support for its aircraft unit, which has struggled to deliver its first passenger plane, national broadcaster NHK reported on Tuesday.
Mitsubishi Heavy said in a statement that it was considering ways to resolve excess liabilities at the unit, but added it had not yet made any decisions.
Mitsubishi's regional jet program, Japan's first passenger plane since the 1960s, has been delayed by several years, with first customer ANA Holdings Inc (9202.T) now expecting its delivery in 2020 rather than 2013 as originally planned.
Analysts said there were still questions over whether the jet project could deliver.