Posted: Sat, Oct 25 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.

Related Links:

•  SpaceNews article
•  Reuters article
•  Breaking Defense article
•  Wall Street Journal article
•  Bloomberg News article

Posted: Sat, Oct 25 11:23 AM ET (1523 GMT)
ESA is putting the finishing touches on a package of programs it will present to member states for funding at next month’s ministerial conference. At a briefing Thursday, ESA Director General Josef Aschbacher said that there are still a few loose ends to resolve on the package, valued at about 22 billion euros ($25.6 billion) over three years. ESA has removed one mission, an Earth science spacecraft called TRUTHS, because of what Aschbacher called “affordability reasons”; the British government reportedly withdrew its support for the mission recently. ESA is also dealing with funding uncertainty externally, with NASA yet to get a budget for fiscal year 2026, and internally, given upheavals in the French government. Aschbacher also said at the briefing that ESA will examine the impacts of the planned joint venture of the space businesses of Airbus, Leonardo and Thales, but was not worried about a potential loss of competition if the joint venture is approved.

Related Links:

•  SpaceNews article
•  Space Intel Report article
•  ESA press release

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