Mitsubishi Aircraft Corp., developing Japan’s first passenger jet, won an order worth $281 million in list prices from Air Mandalay Ltd. in Myanmar, the company’s first sale in the country.

The agreement is for six MRJ90s and deliveries are due to start in 2018, Air Mandalay said in an e-mailed statement today. The airline has an option to purchase four more, according to the statement. Each aircraft costs $46.8 million in list price. Buyers usually get a discount.

The deal is the second agreed by the company, owned by Mitsubishi Heavy Industries Ltd. (7011), at the Farnborough Air Show this week and brings the total number of orders, including options, to as many as 375. Mitsubishi, which has delayed the first test flight of the aircraft three times, wants to challenge Embraer SA (EMBR3) and take half of the global market for regional aircraft over the next 20 years.

Mandalay, based in Yangon, offers flights to 15 domestic destinations in the country.

Link: http://www.bloomberg.com/news/2014-07-14/mitsubishi-signs-mou-to-sell-40-regional-jets-to-eastern-air.html?