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Business Briefing / Airplanes

Honda to reduce jet production

February 18, 2009|TIMES WIRE REPORTS

Honda Motor Co., confronting its first quarterly loss in at least 15 years, will scale back plans to make business jets and may offer voluntary retirements in the United States for the first time as it slashes costs.

The company will produce 70 to 80 jets a year for delivery from the end of 2010, compared with an earlier plan to make 100 planes a year, Chief Executive Takeo Fukui said.

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