Money Briefs: Mitsubishi postpones roll-out of domestic jet

Mitsubishi postpones roll-out of domestic jet

TOKYO • Mitsubishi Heavy Industries said yesterday it would postpone delivery of its long-awaited regional jet by two years, and warned of soaring development costs for the problem-plagued plane.

This is the fifth time that the company has pushed back the commercial roll-out of its Mitsubishi Regional Jet, Japan's first domestically produced passenger plane for over half a century.

The decision to move back the first customer delivery to mid-2020 from the middle of next year comes after local media reports said the plane needed more design changes to ensure it was safe.

The problem was linked to the location of certain electronic equipment, the Nikkei business daily and other Japanese media reported.

AGENCE FRANCE-PRESSE

Starwood 'planning sale of stake in London tower'

LONDON • Starwood Capital Group is in talks to sell its interest in a planned London tower over concerns that Brexit would hurt demand for office space, people familiar with the plan said.

Starwood plans to dispose of its stake in the One Braham development in east London to venture partner Aldgate Developments for more than £60 million (S$106 million), the sources said.

Aldgate Developments will probably seek a new partner before building the 18-storey building, which will have space for about 3,650 workers, they said.

Spokesmen for Starwood and Aldgate Developments declined to comment.

More than 1,900 companies will probably review their office space requirements following the Brexit vote, real estate researcher DealX said in July last year.

BLOOMBERG

A version of this article appeared in the print edition of The Straits Times on January 24, 2017, with the headline 'Money Briefs'. Print Edition | Subscribe