Honda faces long haul to recoup its jet development costs

Tokyo

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 carmaker 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 US$1 billion on the jet programme since the early 2000s - more than double the US$400 million typical for similar jets.