New capital for Mitsubishi MRJ

The Development Bank of Japan (DBJ) plans to invest about 100 billion yen (824 million USD) into the development of the Mitsubishi Regional Jet (MRJ), a small passenger jet being built by a unit of Mitsubishi Heavy Industries. The funding would serve primarily for the construction of maintaince and repair facilities for the MRJ.

The first MRJ is scheduled to make its first flight in late October, with delivery to first customer ANA planned between April and June 2017. Components such as wings and fuselage will be built in factories and assembled elsewhere in Japan. Mitsubishi Aircraft has already received firm orders for roughly 200  planes from airlines in Japan, the United States and Myanmar.

The DBJ hopes its investment will accelerate the growth of a civil aviation industry in Japan. It also plans to pump money in aviation industry apart from the MRJ program.

© 2015 contributor Fabio Gigante
Featured image: A prototype MRJ. (Image © Mitsubishi Aircraft Corporation))