Airbus, Leonardo and Thales sign a memorandum of understanding to create a leading European player in space
By joining forces, Airbus, Leonardo and Thales aim to strengthen Europe’s strategic independence in space, a key sector that supports critical infrastructure and services associated with communications, global navigation, Earth observation, science, exploration and national security. This new company also intends to serve as a trusted partner for the development and implementation of national sovereign space programs.
This new company will assemble, build and develop a comprehensive portfolio of complementary technologies and end-to-end solutions, from space infrastructure to services (excluding space launchers). It will accelerate the pace of innovation in this strategic market, in order to create a unified, integrated and flexible European space player, with the critical mass to compete globally and grow in export markets.
This new player will be able to foster innovation, integrate and enhance investments in future space products and services, building on the complementary assets and global expertise of the three companies. This combination is expected to generate an average of three-digit million euros in total annual synergies on operating income five years after closing. The costs associated with generating this synergy are expected to be consistent with industry standards.
The project is expected to unlock additional revenues, benefit from an expanded range of comprehensive products and services resulting in more competitive offerings, and greater global commercial reach. The combined capabilities also pave the way for more innovative new programs to expand the company’s new market position. Greater operational synergies in engineering, manufacturing and project management, among others, are expected to enhance efficiency and value creation in the long term. Upon completion of the transaction, this new company will include the following contributions:
Ownership of the new company will be shared between the parent companies, with Airbus, Leonardo and Thales respectively holding 35%, 32.5% and 32.5% of the shares. It will operate under joint control, with a balanced governance structure among shareholders.
In order to accelerate European leadership in space and ensure its strategic independence, the new company aims to:
Guillaume Faury, CEO of Airbus, Roberto Cingolani, CEO and Managing Director of Leonardo, and Patrice Caine, Chairman of the Board and CEO of Thales announced:
“This proposed new company represents a pivotal milestone for Europe’s space industry. It embodies our shared vision of building a stronger, more competitive European presence in an increasingly dynamic global space market. By pooling our talent, resources, expertise and R&D capabilities, we aim to deliver growth, accelerate innovation and deliver greater value to our customers and stakeholders. This partnership aligns with The ambitions of European governments to enhance their industrial and technological capabilities. assets, ensuring Europe’s independence across the field of strategic space and its many applications. It offers employees the opportunity to be at the heart of this ambitious initiative, while benefiting from the improved career prospects and collective strength of the three industry leaders.
Next steps
Airbus, Leonardo and Thales employee representatives will be informed and consulted regarding this project in accordance with the laws of the respective countries and the collective agreements applicable in each parent company.
Completion of the transaction is subject to customary conditions, including regulatory approvals, and the new company is expected to begin operations in 2027.
