Airbus, Leonardo and Thales have signed an MoU aimed at combining their respective space activities into a new company.
The three companies aim to strengthen Europe’s strategic autonomy in space. This new company also aims to develop and implement national sovereign space programs.
Airbus will contribute its Space Systems and Space Digital businesses, coming from Airbus Defense and Space, while Leonardo will contribute its Space Division, including its shares in Telespazio and Thales Alenia Space. Thales will mainly contribute through its shares in Thales Alenia Space, Telespazio and Thales SESO.
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The combined entity will employ around 25,000 people across Europe. The new company has an order book from its founding companies that represents more than three years of projected sales and a pro forma turnover of around €6.4 billion, according to 2024 accounts.
Ownership of the new company will be shared between the parent companies: Airbus, Leonardo and Thales will respectively hold 35%, 32.5% and 32.5% of the shares. It will operate under joint control, with a balanced governance structure among shareholders.
Guillaume Faury, CEO of Airbus, Roberto Cingolani, CEO and CEO of Leonardo and Patrice Caine, President and CEO of Thales, stated: “This proposed new company marks a fundamental milestone for the European space industry. It embodies our shared vision of building a stronger and more competitive European presence in an increasingly dynamic global space market.
“By bringing together our talent, resources, experience and R&D capabilities, we aim to generate growth, accelerate innovation and deliver greater value to our customers and stakeholders. This partnership aligns with the ambitions of European governments to strengthen their industrial and technological assets, ensuring Europe’s autonomy in the strategic space domain and its multiple applications. It offers employees the opportunity to be at the center of this ambitious initiative, by while benefiting from an enhanced career path. perspectives and the collective strength of three industry leaders.”
Completion of the transaction is subject to customary conditions, including regulatory clearances, and the new company is expected to be operational in 2027.
