Teruaki Kawai, president of Mitsubishi Aircraft Corp., had long waited for the moment when his firm unveiled the Mitsubishi Regional Jet — the first passenger jet built in Japan in more than half a century.

"We have finally come to the starting line," the 66-year-old said in front of about 500 participants at a ceremony to celebrate the completion of the twin-engine aircraft in the town of Toyoyama, Aichi Prefecture in October.

The MRJ is the first Japanese-developed aircraft since the YS11 propeller airplane that made its first flight in 1962.