Airbus, Leonardo, Thales announce space joint venture
Posted: Sat, Oct 25, 2025, 11:27 AM ET (1527 GMT)
Airbus, Leonardo and Thales have agreed to combine their space businesses into a joint venture. The companies announced Thursday they signed a memorandum of understanding to create a company from space business units at the three companies. Airbus would own 35% of the new company and Leonardo and Thales 32.5% each. The company, not yet named, would have 25,000 employees across Europe with 6.5 billion euros ($7.5 billion) in projected annual revenue. The three companies have been in talks for months on the joint venture, codenamed “Project Bromo,” in a bid to better compete globally. The deal still requires regulatory approvals, such as European antitrust reviews, that will not be completed until 2027.
Airbus, Leonardo and Thales have agreed to combine their space businesses into a joint venture. The companies announced Thursday they signed a memorandum of understanding to create a company from space business units at the three companies. Airbus would own 35% of the new company and Leonardo and Thales 32.5% each. The company, not yet named, would have 25,000 employees across Europe with 6.5 billion euros ($7.5 billion) in projected annual revenue. The three companies have been in talks for months on the joint venture, codenamed “Project Bromo,” in a bid to better compete globally. The deal still requires regulatory approvals, such as European antitrust reviews, that will not be completed until 2027.
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