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FILE PHOTO: The logo of Mitsubishi Heavy Industries is seen at the company's Sagamihara plant in Sagamihara, Japan, July 4, 2016. REUTERS/Maki Shiraki/File Photo. (Reuters) - Japan on Friday said it had picked Mitsubishi Heavy Industries (MHI) to lead the development of a new stealth fighter jet that Japan wants operational the mid-2030s to counter advanced Chinese aircraft. “We awarded the prime contract to Mitsubishi Heavy,” a ministry of defence spokesman said. The fighter jet project, which is expected to cost about $40 billion, comes at an opportune time for MHI, as the company is pulling back from plans to build its SpaceJet regional passenger aircraft as coronavirus travel curbs leave airlines with little cash to buy new planes. Full story

30 October