October 31, 2018 / 4:48 AM / 19 days ago

Mitsubishi Heavy to extend $1.9 bln lifeline to aircraft unit

TOKYO, Oct 31 (Reuters) - Mitsubishi Heavy Industries Ltd said on Wednesday it would extend a 220 billion yen ($1.9 billion) lifeline to its aircraft subsidiary, which is grappling with excess liabilities as it struggles to deliver its first passenger plane.

Mitsubishi Heavy plans to increase capital for the aircraft business by 170 billion yen and to forgive 50 billion yen in loans, it said in a statement.

Mitsubishi’s regional jet programme has been delayed by several years, with its first customer, ANA Holdings Inc , now expecting a delivery in 2020 rather than 2013 as originally planned. ($1 = 113.2000 yen) (Reporting by Ritsuko Ando Editing by Chang-Ran Kim)

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