Mitsubishi Heavy is in talks to buy Bombardier's commercial regional jet business, a move that could provide it with technology and processes to complete the development of Japan's first domestically produced passenger jet.
"It is true that we are in discussions relating to a possible transaction involving Bombardier's regional jet program," Mitsubishi Heavy Industries said in a statement. "However, neither has any corporate decision been made, nor are there any prospects as to the contents of such a transaction."
Canada based Bombardier also issued a similar statement. Mitsubishi Aircraft Corp., a subsidiary of Mitsubishi Heavy, has repeatedly delayed delivery of its Mitsubishi Regional Jet since 2013 due to design modifications. It currently aims to deliver the first unit in mid-2020.
The deal, if concluded, would provide Mitsubishi Heavy with Bombardier's engineering team and sales network particularly in North America, one of the biggest markets for the regional jet business. Bombardier is expected to withdraw from the commercial aircraft business. It sold part of its passenger jet operations to Airbus S.A.S last year.
Bombardier is considered a technology leader in the regional jet business but competition from Boeing, Airbus and Embraer has not made a commercially successful.
Mitsubishi Aircraft Corporation has received Type Inspection Authorization (TIA) from the Japanese Civil Aviation Bureau (JCAB) for the companys Mitsubishi Regional Jet (MRJ) program. This authorization allows Mitsubishi Aircraft to begin certification flight tests for its MRJ 90, first commercial jet from Japan
Mitsubishi Heavy Industries, Ltd. (MHI) will increase the capitalization of Mitsubishi Aircraft Corporation (Mitsubishi Aircraft), its wholly owned company to bring it out of the red as it nears the first delivery of the Mitsubishi Regional Jet (MRJ), a program plagued by delays and financial woes
Aircraft maker Bombardier Inc of Canada has sued Japans Mitsubishi Aircraft Corp over claims that its former employees who went to work the Japanese firm passed on documents containing trade secrets. The suit filed in a federal court in Seattle last Friday, sought an injunction ordering Mitsubishi not to use "any proprietary Bombardier information misappropriated by any former Bombardier personnel" and to stop recruiting its employees to obtain such information, the Seattle Times said in a report Saturday
Japanese Mitsubishi Aircraft posted a net loss of 51.1 billion yen ($454 million) at the end of March due to delays in the development of Japans regional jet
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