Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

CORRECTED-Japan's first passenger plane in 50 yrs makes maiden flight

Published 2015-11-11, 12:41 p/m
CORRECTED-Japan's first passenger plane in 50 yrs makes maiden flight

(Corrects identity of top buyer to SkyWest from Trans States,
changes wording in first paragraph)
TOKYO, Nov 11 (Reuters) - Japan's first commercial aircraft
in half a century made its maiden flight on Wednesday, in a
breakthrough for the country's long-held ambition to establish
an aircraft industry that can compete with some of the major
players in global aviation.
The Mitsubishi Regional Jet (MRJ) took off on a one-hour
return flight from Nagoya Airport to test Mitsubishi Aircraft
Corp's ability to bring the 100-seat class plane into service
after three years of delays.
The unit of Mitsubishi Heavy Industries 7011.T , which
built the World War Two-era Zero fighter, is hoping the
$47-million regional jet will help it oust Canada's Bombardier
Inc BBDb.TO as the world's second-biggest maker of smaller
passenger jets behind Brazil's Embraer SA EMBR3.SA .
The MRJ is Japan's first commercial passenger aircraft since
the 64-seat YS-11 entered service 50 years ago.
The first MRJ is slated for delivery in June 2017 to Japan's
biggest carrier, ANA Holdings 9202.T . Mitsubishi aims
eventually to sell more than 2,000 aircraft in the competitive
market segment.
So far it has secured 223 firm orders, most recently in
January when Japan Airlines 9201.T asked for 32 planes. The
biggest single order, for up to 200 aircraft, was from U.S.
regional airline group SkyWest Inc SKYW.O .
Mitsubishi says the MRJ burns a fifth less fuel than
aircraft of similar size, thanks to new-generation engines from
Pratt & Whitney, a subsidiary of United Technologies Corp (N:UTX)
UTX.N .
Japan's last attempt to establish itself as a commercial
aircraft maker ended in failure. Production of the YS-11, built
by a consortium that included Mitsubishi Heavy, finished after
only 182 planes were built.
That programme, however, helped Mitsubishi Heavy and other
companies forge ties with Boeing (N:BA) Co BA.N , turning them into
major suppliers and partners of the U.S. aircraft maker and
helping revive an aerospace industry that was dismantled after
World War Two.
Those Japanese companies build 35 percent of Boeing's
advanced 787 carbon-composite jetliner, including the wings, the
most complex part.
Japan's biggest carmaker, Toyota Motor Corp 7203.T , and
largest trading company, Mitsubishi Corp 8058.T , each own a 10
percent stake in the MRJ venture.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.