Mitsubishi Write-Down The Value Of CRJ Program Acquired from Canada's Bombardier
Mitsubishi finishes SpaceJet overhaul and eyes regulator approval
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August 4, 2020 - by MITSURU OBE for www.nikkei.com
- Japanese aircraft maker faces uncertain demand amid coronavirus resurgence
TOKYO -- Mitsubishi Heavy Industries has resumed work to get its SpaceJet passenger jet certified for commercial flights after completing a sweeping restructuring at its aircraft unit that led to the departure of half of its employees, it said Monday.
"We are working under our engineering team on a plan to obtain type certification in an efficient manner," chief financial officer Hisato Kozawa said in an earnings press conference. "Once the plan is drawn up, we'll put that into practice."
In the April-June first quarter, Mitsubishi Heavy reported an operating loss of 71.3 billion yen ($673 million).
The loss is partly due to a 15% drop in revenue and reflects a global slump in demand for power generators from utilities and aircraft bodies and wings from Boeing, but is also due to a write-down on the value of the commercial jet program Mitsubishi acquired from Canada's Bombardier in June....
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