Mitsubishi Aircraft Corporation

Farnborough International Airshow order highlights - Day 3

Highlights from the third day at Farnborough 2012

SkyWest pledges to buy 100 Mitsubishi jets as it attempts to recover from stinging financial losses

SkyWest has announced at the Farnborough Airshow a fleet replacement plan involving a tentative commitment to order up to 100 Mitsubishi MRJ regional jets. While the order may be seen as a boost for the programme, which has only 70 firm orders, it comes as SkyWest struggles to return to profitability after losing money during 2011 and recording a loss in 1Q2012. As Mitsubishi celebrates securing a high-profile US customer for the MRJ, SkyWest is basing its fleet plans on tenuous scope clause relief to create a small amount of growth in the stagnant US regional market.

Integration challenges created by its acquisition of ExpressJet in 2010 resulted in SkyWest missing its financial results target in each quarter for 2011, which culminated in the company’s first annual loss in 23 years. While the carrier shrank its 1Q2012 losses and promises a return to profitability in 2012, the carrier is embarking on a fleet revamp with little visible growth on the horizon for US regional carriers. The market must undergo change if SkyWest is to receive all 100 aircraft – or even a notable amount.

Jetstar-JAL LCC, "Jetstar Japan" to commence service by Dec-2012

Japan Airlines Corp, Jetstar Airways and Mitsubishi Corp confirmed plans to establish a LCC JV in the Japan market by Dec-2012. Jetstar Japan will be Japan's third new LCC announced this year, following hard off the heels of All Nippon Airways' announcement last month that it plans to establish a JV with leading low cost airline AirAsia, AirAsia Japan, in addition to its previously announced LCC, Peach. The JAL JV would add another piece to the complex jigsaw that is now transforming the Asian airline market. The potential market growth as these successive ventures are introduced can be measured in the hundreds of millions of new passengers. Removal of highly restrictive regulatory conditions and the scale of opportunities as new city pair market options emerge mean literally that the sky is the limit for growth upsides.

MC Aviation Partners: Japan's big lessor with big ambitions

MC Aviation Partners, child of Mitsubishi Corporation, aims to become a top-ranked lessor with a portfolio of more than USD5 billion. Currently sitting on a portfolio of USD3 billion, ranking it as the 13th largest lessor by fleet value, CEO Tatsuo Sato is confident his company will meet this target. Mr Sato talks to CAPA in this exclusive interview and shares his company's strategy, and MCAP's focus on B737NGs and A320s.