FILE PHOTO: The logo of Mitsubishi Heavy Industries is seen at the company’s news conference in Tokyo, Japan May 9, 2016. REUTERS/Issei Kato
October 22, 2020
TOKYO (Reuters) – Japan’s Mitsubishi Heavy Industries <7011.T> 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.
The source declined to be identified because the plan is not yet public.
(Reporting by Tim Kelly; Writing by Chang-Ran Kim; Editing by David Goodman)