EU approves fighter jet joint venture between Japan, U.K. and Italy

The European Commission has approved a joint venture among Japanese, British, and Italian companies to develop a next-generation fighter jet, marking a significant step in regional aerospace collaboration. The deal is between Mitsubishi Heavy Industries, BAE Systems, Leonardo SpA, and the Japan Aerospace Industrial Association, aiming to oversee design, manufacturing, and delivery for customers in Japan, the U.K., and Italy. Despite concerns over competition, the approval follows the EC's assessment that the transaction won't impact market dynamics negatively.