Overview
- The preliminary memorandum of understanding merges satellite manufacturing, space systems and services while excluding launchers such as Ariane.
- Ownership is set at Airbus 35% and Thales and Leonardo 32.5% each, with about 25,000 employees and roughly €6.5 billion in annual revenue based on 2024 figures.
- The companies frame the deal as strengthening Europe’s strategic autonomy in space and boosting competitiveness against low‑Earth‑orbit constellations like SpaceX’s Starlink.
- The new entity, code‑named Project Bromo, will be headquartered in Toulouse and modeled on joint‑control governance, with detailed leadership arrangements to be decided.
- Management projects “mid‑triple digit” millions of euros in annual operating synergies after five years, with union consultations ahead and antitrust scrutiny expected given reduced supplier choice in Europe.