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Mitsubishi Heavy's aviation unit back in black for Q1

Mitsubishi Heavy Industries’ (MHI) aircraft, defence, and space unit bounced back into the black, posting an operational profit of Y9.4 billion ($89.1 million) for the first quarter of the 2019 fiscal.

This was due largely to increased revenue, and the unit's reduction in investment costs for the MRJ regional jet — now known as the 'SpaceJet' — compared to the same period a year ago, when the unit posted an operating loss of Y11.6 billion.

Revenue rose marginally — about 1% — to Y152 billion for the quarter ended 30 June. The value of orders for the quarter was Y87.7 billion, lifted slightly by sales in its commercial aircraft business.

In June, Mitsubishi Aircraft rebranded its MRJ programme as the SpaceJet. At this year’s Paris air show, an unidentified North American customer began negotiations for a 15-aircraft order for the SpaceJet M100.

MHI’s commercial aircraft business delivered 16 shipsets for the Boeing 777 programme, compared with 11 the same quarter a year ago. It also increased the number of 787 shipsets for the first quarter of the year, delivering 43, compared to 37 a year ago.

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