Airbus, Leonardo, Thales Sign MoU to Create New European Space Enterprise

Airbus, Leonardo and Thales have signed a memorandum of understanding (MoU) to merge their space-activities into a single new company.

The combined entity will draw on the partners’ strengths across space infrastructure and services (excluding launchers) and is expected to have a workforce of around 25,000 employees and a pro-forma turnover of about €6.5 billion (end of 2024).

Ownership will be shared: Airbus 35 %, Leonardo 32.5 % and Thales 32.5 %; the venture will be under joint control with a balanced governance structure.

According to the companies, the move is designed to strengthen Europe’s strategic autonomy in space, enhance innovation, accelerate growth and improve competitiveness against global rivals.

Operational synergies  described as “mid-triple-digit million euros” annually in operating income five years after closing — are anticipated, primarily from engineering, manufacturing and project-management improvements.

The new company is expected to become operational in 2027, subject to regulatory approvals and closing conditions.