Agreement between Mitsubishi Aircraft and Lockton. On the left: Mitsubishi Aircraft Corporation's president Hiromichi Morimoto. To the right: Lockton's president Niklas Lund.

MRJ: Mitsubishi Aircraft Receives Its First European Order, Maximum Of 20 Units

Mitsubishi Aircraft announced that the company has secured a basic agreement with the Swedish Aircraft Leasing Company Lockton for 20 of the company’s regional jets, the MRJ90.

Out of these 20 jets, the agreement made definite 10 aircraft, giving Lockton the option of ordering an additional 10 units. Using this basic agreement as a base, the companies are moving toward finalizing an official contract.

This agreement marks the first that Mitsubishi Aircraft has secured with a European company, though this is the 2nd aircraft leasing company that the company has reached a basic agreement with. Mitsubishi Aircraft plans on beginning delivery of the order during FY 2020.

Up to now, the company has received orders for 407 jets, and the agreement with Lockton here as well as the deal secured with Aerolease in February will bring that total to 447 (243 decided, 180 optional, 24 purchased).

The market for regional jets is projected over the next 20 years to encompass 5,000 units, and along with units actually being purchased by companies, demand for lease units is also expected to grow. As Mitsubishi Aircraft secures its 2nd deal with an aircraft leasing company, the company plans to further promote sales towards other leasing companies and strengthen sales targeted at airline companies to further the marketability of the MRJ.

[Translated by Bryce Clarke]