Mitsubishi Heavy Industries Ltd. said Thursday it expects to book an impairment loss of ¥50 billion ($470 million) to ¥70 billion in the current business year through March related to the purchase of Bombardier Inc.'s regional jet business.
The expected loss stemming from the write-down of the goodwill and other assets of the jet business reflects a sharp drop in air travel demand amid the coronavirus outbreak.
The loss could be more than the $550 million in cash that Mitsubishi Heavy will pay to Bombardier as part of a deal with the Canadian company.