Mitsubishi Heavy Industries Ltd., which agreed Tuesday to buy Bombardier Inc.'s loss-making regional jet program, plans to exploit the Canadian company's support network and global customer list to rejuvenate its delayed efforts to conquer the jet market.
Japan's return to the aircraft market for the first time in 50 years had run into trouble as the Mitsubishi Regional Jet hit seven years of delays — but Bombardier's withdrawal from the cutthroat commercial aerospace sector gives Japan a second chance.
The deal comes days after Mitsubishi announced a redesigned 65 to 88-seat regional jet at the Paris Air Show and gave the MRJ a face-lift and new brand, SpaceJet, promoting high cabins which it says will allow passengers to store suitcases in overhead bins.
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