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AUTOWORLD


Honda faces long haul to recoup jet costs

Honda faces long haul to recoup jet costs
FILE PHOTO : Honda Aircraft Company CEO Michimasa Fujino poses next to Honda Motor's HondaJet business airplane at Honda Aircraft Company in Greensboro, North Carolina, U.S., November 11, 2016. REUTERS

TOKYO, Mar 27 (Reuters) After three decades building an airplane from scratch, Michimasa Fujino, 56, chief engineer of the Hondajet, might have to reach a ripe old age to see Honda Motor Co's pet aviation project recoup its development costs. Honda has declined to reveal the costs, but the automaker has been researching aircraft development since 1986, and Richard Aboulafia, vice president of analysis at aerospace consulting firm Teal Group, thinks it has likely spent roughly
1 billion on the jet programme since the early 2000s - more than double the
400 million typical for similar jets. A five-year delivery delay and developing its own engine bumped up the bill. The company that gave the world the Honda Civic, which revolutionised compact cars in the United States in the 1970s, is betting its

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