Italy to Invest €7.5 Billion in New Eurofighter Jets to Modernize Air Fleet

Italy plans to invest nearly 7.5 billion euros over the next 11 years for 24 new Eurofighter jets, replacing aging aircraft and enhancing defence capabilities amid rising NATO defense spending. The project, spanning 2024-2034, involves Airbus, BAE Systems, and Leonardo as key stakeholders.

Italy is gearing up to invest just shy of 7.5 billion euros ($8.1 billion) over the next 11 years to acquire 24 new Eurofighter jets. A Ministry of Defence document revealed plans to renew the nation's air force fleet, replacing outdated Eurofighter and Tornado jets amid rising geopolitical tensions and increased NATO defense expenditures.

The twin-engine, supersonic Eurofighter Typhoon jets are a collaborative product of a German, British, Italian, and Spanish consortium, represented by leading aerospace firms including Airbus, BAE Systems, and Leonardo. As the principal contractor for this procurement, Leonardo has declined to comment on the document, while forecasts suggest an imminent government announcement regarding the plan itself.

Set to span from 2024 to 2034, the €7.5 billion program will see 26 older aircraft substituted by 2028, including provisions for technical support and staff training. Funds committed thus far amount to 690 million euros, with the balance to be secured through future financial arrangements. Parliamentary committees are expected to deliver opinions on the program by mid-August, positioning it for final approval. This move aligns with similar actions by Germany and supports collaborative efforts, such as the new Global Combat Air Programme developing an advanced fighter jet for operations by 2035.

(With inputs from agencies.)