Problems for the Mitsubishi Aircraft Corporation

Due to the coronavirus, the Mitsubishi Aircraft Corporation has decided to halve its operating budget for the SpaceJet program to $561 million. The SpaceJet program is owned by the Mitsubishi Aircraft Corporation and the Toyota Motor Corporation who are working with the Subaru Corporation (who is designing the aircraft). Its aim is for Japan to enter the regional jet industry and to get a share of the market. The program consists of 2 models, the M90 and the M100, who have a capacity of between 70 and passengers. Mitsubishi has announced: “the COVID-19 pandemic presents an unprecedented challenge for society as a whole, and there are parts of MHI Group’s business that are already facing significant impact, especially in industries like commercial aviation and automotive”. Even though more and more airlines are restarting flights, the financial cost has been overwhelming for too many companies in the aviation industry. Let’s just hope that things get back on the road. 14th of May 2020.

Bad news for the Mitsubishi Aircraft Corporation.

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