spacetoday.net: 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.