November 15, 2024
Italy plans to spend 1.6 billion euros on new aerobatic aircraft #ItalyFinance

Italy plans to spend 1.6 billion euros on new aerobatic aircraft #ItalyFinance

CashNews.co

By Angelo Amante

ROME (Reuters) – The Italian government has proposed spending around 1.6 billion euros ($1.78 billion) on new jets for its aerobatic display team, a parliamentary document showed on Tuesday.

The purchase of the 20 T346 jets built by defence group Leonardo will run until 2038 and includes five aircraft for training purposes.

Parliamentary committees are due to give their opinion by next month on the plan, which is part of a three-year defence spending programme as Italy looks to increase its military budget.

“The programme also includes technical and logistical support, in order to ensure the maintenance of the 20 aircraft,” as well as courses to train pilots and personnel, the document said.

The Frecce Tricolori, the aerobatics team of the Italian Air Force, perform at public ceremonies where they fly in formation, leaving behind a trail of smoke in the red, white and green colours of the national flag.

Under the 2024-26 defence spending plan Italy is also looking to buy an additional 25 F35 Lockheed Martin Corp fighter jets by 2035, at a cost of around 7 billion euros, bringing the national fleet to 115 aircraft.

In July, the government submitted to parliament a request to boost armaments on those F35s that are already operational, at a cost of some 680 million euros.

Rome is also planning to spend just under 7.5 billion euros over the next 11 years on 24 new Eurofighter jets.

Italy’s defence spending makes up around 1.5% of GDP — below a 2% NATO alliance target. Other European nations have sharply increased their defence budgets since Moscow launched an invasion of Ukraine in February 2022.

($1 = 0.8985 euros)

(Reporting by Angelo Amante; Editing Crispian Balmer and Ed Osmond)