Europe Grounded? Russia's answer to US next-gen fighter hits the skids.

The Kremlin is cutting its initial production of the Sukhoi T-50 fighter by 75 percent amid cost overruns and rumored technical concerns – the same kind of issues that have plagued US development of the F-35.

Alexei Druzhinin/RIA-Novosti/Pool/AP/File

Russia's ambitious T-50 fighter plane project was meant to develop a rival to two futuristic US jetfighters, the F-22 Raptor and the planned F-35 Lightning-II.