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On Oct. 23, (Amsterdam, Netherlands), (Rome, Italy) and (Paris France) signed a memorandum of understanding (MOU) that will combine each company’s respective space activities into a new company.

This move will strengthen Europe’s strategic autonomy in space, a major sector that underpins critical infrastructure and services related to telecommunications, global navigation, earth observation, science, exploration and national security. This new company also intends to serve as the trusted partner for developing and implementing national sovereign space programs. 

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The new company will pool, 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 innovation in this strategic market, in order to create a unified, integrated and resilient European space player, with the critical mass to compete globally and grow in export markets.

Further operational synergies in, among others, engineering, manufacturing and project management, are anticipated to drive long-term efficiency and value creation. Upon conclusion of the transaction, this new company will encompass the following contributions:

• Airbus will contribute with its Space Systems and Space Digital businesses, coming from Airbus Defence and Space.
• Leonardo will contribute with its Space Division, including its shares in Telespazio and Thales Alenia Space.
• Thales will mainly contribute with its shares in Thales Alenia Space, Telespazio and Thales SESO.

The combined entity will employ around 25,000 people across Europe. With an annual turnover of about €6.5 billion (end of 2024 pro-forma) and an order backlog representing more than 3 years of projected sales, this new company is expected to form a robust, innovative and competitive entity worldwide.

Ownership of the company will be shared among the parent companies, with Airbus, Leonardo and Thales owning 35%, 32.5% and 32.5% stakes, respectively. It will operate under joint control, with a balanced governance structure among shareholders.

Airbus CEO Guillaume Faury, Leonardo CEO and general manager Roberto Cingolani, and Thales chair and CEO Patrice Caine jointly state: “This proposed company marks a pivotal milestone for Europe’s space industry. It embodies our shared vision to build a stronger and more competitive European presence in an increasingly dynamic global space market. By pooling our talent, resources, expertise 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 across the strategic space domain and its many applications. It offers employees the opportunity to be at the heart of this ambitious initiative, while benefiting from enhanced career prospects and the collective strength of the three industry leaders.”

Employee representatives of Airbus, Leonardo and Thales will be informed and consulted on this project according to the laws of involved countries and the collective agreements applicable at each parent company. Completion of the transaction is subject to customary conditions including regulatory clearances, with the new company expected to be operational in 2027.