Leonardo, Airbus & Thales to Assess Space Alliance by July End
Leonardo (LDOF.MI), a European aerospace company, launches a new tab. At the Paris Airshow on Tuesday, Leonardo CEO Roberto Cingolani announced that Thales (TCFP.PA) and Airbus (AIR.PA) will evaluate the viability of a space partnership by the end of July.
As Europe attempts to compete with Elon Musk’s Starlink, the three parties have been considering plans to establish a new collaborative space corporation under the moniker “Project Bromo,” which is based on a volcano in Indonesia.
By the end of next month, the three parties would have evaluated some areas of a possible partnership, including financial due diligence, potential European antitrust obstacles, and “the value creation” of the business, according to Cingolani.
The CEO also told reporters, “The business model will take more time, however,”
Opening a new tab, he indicated that the alliance’s structure would be “slightly different in governance” but comparable to that of Europe’s leading missile manufacturer, MBDA, which is controlled by Airbus, Leonardo, and BAE Systems (BAES.L).
Additionally, Cingolani stated that Leonardo and Thales, who now have two joint ventures in the space industry—Thales Alenia Space and Telespazio—were thinking about combining them into the new company.
“It’s a moment when we are discussing all scenarios,” he explained.
In a separate statement, Italian Industry Minister Adolfo Urso expressed his hope that Germany would be included in discussions over a possible Italian-French space partnership.
“We are in tune with Germany and the new German government on many industrial dossiers,” Urso stated.
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