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June 25, 2024
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Mitsubishi Heavy Industries (MHI) has fully impaired costs and assets related to the SpaceJet regional jet program, making it ever more unlikely that the project will ever re-start again. The impairment of ¥80.599 billion ($573 million) is mentioned in MHI’s financial statements for FY21 that ended in March and that was presented only this week. Mitsubishi discloses full impairment on SpaceJet.

The impairment on SpaceJet includes ¥29.443 billion in intangible assets, ¥2.133 billion in property, plant, and equipment (PPE), and ¥590 million in rights-of-use assets. ¥480 million in impairment on other, non-recurrent assets. ¥47.950 billion is related to goodwill.

 


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Richard Schuurman
Active as a journalist since 1987, with a background in newspapers, magazines, and a regional news station, Richard has been covering commercial aviation on a freelance basis since late 2016. Richard is contributing to AirInsight since December 2018. He also writes for Airliner World, Aviation News, Piloot & Vliegtuig, and Luchtvaartnieuws Magazine. Twitter: @rschuur_aero.