UK, Italy, Japan to develop next-generation fighter jet

Britain's BAE Systems, Italy's Leonardo and Japan Aircraft Industrial Enhancement Co Ltd (JAIEC) will each hold a 33.3 percent share in the new venture, "marking a pivotal moment for the international aerospace and defence industry," they announced in a press release. JAIEC is a firm jointly funded by Mitsubishi Heavy Industries (MHI) and the Society of Japanese Aerospace Companies. "Today's agreement is a culmination of many months working together with our industry partners and is testament to...