Mitsubishi Heavy Industries said Tuesday that it will pull the plug on its regional jet project, putting an end to a once-hyped attempt to revive Japan’s aircraft manufacturing industry.
The project to develop Japan’s first domestically manufactured jet in nearly a half century, known as the Mitsubishi SpaceJet, faced a thorny path, with Mitsubishi Heavy forced to delay deliveries six times. The firm had originally planned to make the first delivery in 2013.
In October 2020, Mitsubishi Heavy froze the public-private project, into which the firm has reportedly invested about ¥1 trillion ($7.6 billion), as the COVID-19 pandemic wiped out demand for aircraft.