Honda moves into aviation market with small jet

Honda announced long-awaited plans to enter the aviation industry, saying it would start taking orders this fall for a seven-person micro-jet with a wing-mounted engine design that promises improved fuel economy. The upcoming HondaJet would compete in the market for an emerging class of very light passenger jets priced at under $4 million.

Honda, which has been quietly developing its aircraft project for the past two decades, also said it had struck a wide-ranging alliance with Piper Aircraft that would include sales and marketing of the new plane. Honda will form a new U.S. subsidiary to handle production of the HondaJet, expected to compete in a market for very light jets the company projects at about 200 planes annually.

Honda unveiled a prototype of its HondaJet last year at the Oshkosh, Wisconsin air show and brought it back again to that event this week. The twinjet features a composite fuselage, aluminum wings and two turbofan engines. Honda has announced plans to make and market those HF118 jet engines in a tie-up with General Electric Co.

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