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Mitsubishi Heavy Industries failed passenger jet unit to be liquidated
July 11th 2024
Mitsubishi Heavy Industries (MHI) said its debt-laden aircraft subsidiary has filed for liquidation with the Tokyo District Court. Read More » The decision is the final nail in the coffin for the government-backed project which aimed to develop a home-grown passenger jet. The company’s debt is estimated to be 640 billion yen (US$4 billion). MHI said the debt will be reported as an extraordinary loss and will have little impact on the Japanese conglomerate’s bottom line.
