Finance
Italy's parliament approves 8.8 billion euros for GCAP jet fighter programme
Published by Global Banking & Finance Review®
Posted on February 12, 2026
2 min readLast updated: February 12, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on February 12, 2026
2 min readLast updated: February 12, 2026
Italy's parliament has approved €8.8 billion for the GCAP fighter programme, a joint venture with the UK and Japan, aiming for completion by 2035.
By Angelo Amante
ROME, Feb 12 (Reuters) - Italy's parliament on Thursday backed an almost 9-billion-euro ($10.7 billion) funding plan for a jet-fighter programme with Britain and Japan, a flagship defence project whose expected costs have more than tripled from early estimates.
The Global Combat Air Programme (GCAP) was launched by Italy, Britain and Japan in December 2022 to deliver a next-generation fighter by 2035, integrating crewed and uncrewed platforms, sensors and data networks.
The defence committee of the lower house of parliament approved a government proposal to commit 8.77 billion euros for GCAP's initial phases, to be spent by 2037, a parliamentary document showed.
The committee's vote is final, so the full chamber does not need to sign off.
Italy now expects early-phase GCAP costs to reach 18.6 billion euros, up from around 6 billion euros at 2021 prices when the programme was first drawn up, the document showed.
"That projected cost estimate has been updated over time to take into account rising technology-maturation, testing, development and design costs," the document said.
GCAP is being developed by a joint venture of Britain's BAE Systems, Italy's Leonardo and Japan Aircraft Industrial Enhancement (JAIEC), which is backed by Mitsubishi Heavy Industries.
The Italian approval comes as the rival French-German-Spanish Future Combat Air System programme faces industrial friction and looming political decisions on its future.
In December, Italy said Germany and Australia could be interested in joining GCAP. Italian media reported that Prime Minister Giorgia Meloni and German Chancellor Friedrich Merz discussed the issue at a summit in Rome last month.
Italian Foreign Minister Antonio Tajani said on Wednesday he was open to potential expansion. "If there are other countries (willing to join), I am personally not against," he told broadcaster Sky tg24.
($1 = 0.8420 euros)
(Reporting by Angelo Amante. Additional reporting by Alvise Armellini. Editing by Mark Potter)
The Global Combat Air Programme (GCAP) is a joint initiative by Italy, Britain, and Japan aimed at developing a next-generation fighter jet by 2035, integrating advanced technologies.
Military technology encompasses the tools, equipment, and systems used by armed forces to enhance their capabilities in defense and warfare.
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