Headlines
European major satellite venture still needs some time to finalise, source says
Published by Global Banking and Finance Review
Posted on October 6, 2025
2 min readLast updated: January 21, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on October 6, 2025
2 min readLast updated: January 21, 2026
Airbus, Thales, and Leonardo's European satellite venture requires more time to finalize due to ongoing discussions on key details and workshare.
(Refiles to add dropped word in headline)
ROME/PARIS (Reuters) -A framework agreement between France's Airbus and Thales and Italy's Leonardo to create a major new European satellite manufacturer will still require some weeks, a source told Reuters on Monday.
The person familiar with the matter said key details remain under discussion and that the boards of the three companies are working to reach a unified position.
Talks between the aerospace companies encountered a setback after existing partners Thales and Leonardo asked for more time, French daily La Tribune reported.
Leonardo declined to comment. Thales did not immediately reply to requests for comment.
A spokesperson for Airbus said: "Talks with our partners continue and are confidential in nature; it is too early to comment further".
Airbus and the other two companies, which own Airbus' main competitor in satellite production, Thales Alenia Space, have been in talks for months to create a new European venture to compete more effectively with rivals from China and the U.S., including Elon Musk's SpaceX.
The deal aims at combining Thales Alenia Space and Telespazio - two joint ventures between Leonardo and Thales - Airbus Space Systems, Airbus Intelligence and the space activities owned by Leonardo.
La Tribune reported that talks accelerated last week but hit a last-minute obstacle over how workshare would be divided among the three companies.
(Reporting by Giuseppe Fonte in Rome, Tim Hepher in Paris and Giulia Segreti in Rome; Editing by Kirsten Donovan and Louise Heavens)
A satellite manufacturer is a company that designs, builds, and tests satellites for various purposes, including communication, weather monitoring, and scientific research.
A joint venture is a business arrangement where two or more parties collaborate to undertake a specific project or business activity, sharing resources, risks, and profits.
Competition in the aerospace industry refers to the rivalry among companies to develop and produce aircraft, satellites, and related technologies, often focusing on innovation, cost efficiency, and market share.
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