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Mitsubishi Heavy Industries to freeze Spacejet development: source

Published 10/22/2020, 09:04 AM
Updated 10/22/2020, 09:05 AM
© Reuters. FILE PHOTO: The logo of Mitsubishi Heavy Industries is seen at the company's news conference in Tokyo

© Reuters. FILE PHOTO: The logo of Mitsubishi Heavy Industries is seen at the company's news conference in Tokyo

TOKYO (Reuters) - Japan's Mitsubishi Heavy Industries (T:7011) plans to freeze development of its Spacejet regional jet as the coronavirus pandemic erodes its finances and the wider aerospace industry, a person with knowledge of the decision told Reuters.

The plan was reported earlier by Kyodo News, which said the company would announce details of the decision on Oct. 30.

© Reuters. FILE PHOTO: The logo of Mitsubishi Heavy Industries is seen at the company's news conference in Tokyo

The source declined to be identified because the plan is not yet public.

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