Airbus, Leonardo, Thales sign MoU to create European player in space

Airbus (EADSY), Leonardo (FINMY) and Thales (THLLY) have signed a Memorandum of Understanding, MoU, aimed at combining their space activities into a new company. By joining forces, Airbus, Leonardo and Thales aim to strengthen Europe’s strategic autonomy in space. This new company also intends to serve as the trusted partner for developing and implementing national sovereign space programmes. Upon conclusion of the transaction, this new company will encompass the following contributions: Airbus will contribute with its Space Systems and Space Digital businesses; Leonardo will contribute with its Space Division; 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. Ownership of the new company will be shared among the parent companies, with Airbus, Leonardo and Thales owning respectively 35%, 32.5% and 32.5% stakes. It will operate under joint control, with a balanced governance structure among shareholders. Completion of the transaction is subject to customary conditions including regulatory clearances, with the new company expected to be operational in 2027.