During a presentation of the Earthcare cloud and aerosol research satellite at Airbus Defence & Space, Immenstaad am Bodensee, Germany, February 1, 2024. FELIX K’STLE/PICTURE-ALLIANCE/DPA/AP IMAGES
25 years after the creation of EADS (renamed Airbus in 2013), a new partnership is shaking up the European aerospace sector. After more than a year of negotiations, the three leading satellite manufacturers – Airbus (a Franco-German-Spanish group), France's Thales and Italy's Leonardo – signed a memorandum of understanding on October 23 to merge their space activities. According to the three partners, this agreement is a "major milestone in strengthening the European space ecosystem, supporting a greater innovation capability, strategic autonomy and competitiveness."
The new company, whose name has yet to be revealed, could be operational by 2027. Its headquarters will be in Toulouse, and it will employ 25,000 people across Europe. The annual turnover is expected to be around €6.5 billion, with an order backlog representing over three years of projected activity. The three partners will hold nearly equal shares: Airbus will own 35% of the capital, while Leonardo and Thales will each have 32.5%. Cash payments may be made at the time of the final agreement, depending on the value of each entity. "It will operate under joint control, with a balanced governance structure among shareholders," they said, without providing further details. Thales and Leonardo have already been partnered in space activities since 2007 through Thales Alenia Space and Telespazio.
