Mitsubishi Heavy Industries, Ltd. announced Tuesday it will discontinue the development of the Mitsubishi Space Jet (MSJ), a domestically produced jet airliner, and withdraw from the business.
About 1 trillion yen has already been spent on the project, and future costs were estimated at several hundred billion yen. The company has therefore concluded that the jet will not be profitable.
Due to its prolonged development, some of the jet's equipment is now out of date, and it has become difficult for overseas parts manufacturers and others to maintain production for the MSJ.
