Mitsubishi Aircraft and SkyWest, Inc. Announce 100 Aircraft Agreement in Principle

Direct News Source

11-Jul-2012 Mitsubishi Aircraft Corporation and SkyWest, Inc., the holding company for the two regional air carriers who conduct the world’s largest combined regional airline operations, are pleased to announce that they have reached an agreement in principle in anticipation of completing a firm order for 100 Mitsubishi Regional Jets (MRJ), laying the foundation for a business relationship leading to Mitsubishi Aircraft’s delivery of MRJs to SkyWest commencing in 2017.

"SkyWest remains committed to providing innovative leadership within the regional airline industry,” said Bradford R. Rich, President, SkyWest, Inc. “This agreement is the product of a cooperative partnership that we are confident will create long-term value for both parties. We look forward to the continued development of a long-term relationship with Mitsubishi Aircraft.”

"Mitsubishi Aircraft is absolutely delighted to be expanding its presence in the [regional aircraft] market with an outstanding customer such as SkyWest” said Hideo Egawa, President, Mitsubishi Aircraft, adding "I warmly welcome our friends in St. George to the MRJ family!"

Mitsubishi Aircraft and SkyWest, Inc. intend to continue their efforts to transform the agreement in principle into a definitive agreement in the coming weeks. The agreement in principle contemplates that Mitsubishi Aircraft would commence delivery of the MRJs during 2017 and all 100 MRJs would be delivered before the end of 2020.

MRJ has received 130 aircraft orders so far including 25 (15 firm, 10 option) from All Nippon Airways Co., Ltd., 100 (50 firm, 50 option) from Trans States Holdings and 5 (all firm) from ANI Group Holdings. This agreement in principle, if developed into a binding purchase order, would increase the number of orders for the MRJ to 230 aircraft.