Leonardo, Airbus, Thales to assess feasibility of space alliance by end-July
PARIS, June 17 (Reuters) - European aerospace companies Leonardo (LDOF.MI), opens new tab Thales (TCFP.PA), opens new tab and Airbus (AIR.PA), opens new tab will assess the feasibility of a space alliance by the end of July, Leonardo CEO Roberto Cingolani said on Tuesday at the Paris Airshow.
Under so-called "Project Bromo", named after an Indonesian volcano, the three groups have been exploring plans to set up a new joint space company as Europe looks to compete with Elon Musk's Starlink.
Cingolani said that by the end of next month the three groups would have assessed several aspects of a potential partnership, including possible European antitrust hurdles, financial due diligence, and "the value creation" of the venture.
"The business model will take more time, however," the CEO added, speaking to reporters,
He confirmed that the structure of the alliance would be similar to that of Europe's top missile maker MBDA, owned by Airbus, Leonardo and BAE Systems (BAES.L), opens new tab, although "slightly different in governance".
Cingolani also said that Leonardo and Thales - which already have two joint ventures in the space sector, namely Thales Alenia Space and Telespazio - were considering merging these into the new entity.
"It's a moment when we are discussing all scenarios," he said.
Separately, Italian Industry Minister Adolfo Urso told reporters that he hoped talks over a potential Italian-French space alliance could include Germany too.
"We are in tune with Germany and the new German government on many industrial dossiers," Urso said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
25 minutes ago
- The Sun
Fury as Sir Keir Starmer's Brexit deal may change flavour of smoky bacon crisps
SIR Keir Starmer has been blasted for a 'smoky bacon surrender' after his Brexit deal left Britain taking orders from Brussels on what goes in our crisps. The PM agreed to follow new EU food rules - including a ban on smoke flavourings still allowed in the UK - prompting fears much-loved bacon crisps will never taste the same. 2 Reform UK leader Nigel Farage told The Telegraph: 'Leave our smoky bacon alone. 'You have to ask what next? Changes to the way we smoke our kippers? Who knows? The truth is this is all now totally out of our hands. 'Our industries have to change to adapt to how the EU sets the rules, maybe not what our own people, our own innovators, entrepreneurs and industries would choose to do.' Shadow Cabinet Office Minister Richard Holden added: ' Labour's smoky bacon surrender is just the latest flavour of betrayal served up by their EU deal.' A No10 spokesperson insisted major crisp firms no longer use the banned flavourings and most had already changed recipes to keep selling into the EU. A Government spokesperson also told The Sun: 'Anyone claiming smoky bacon crisps are for the chop is peddling porky pies. 'The Great British crisp industry will still be able to produce mouthwatering flavours - and find it easier to bring home the bacon by exporting to new markets.' 'Sell-out' Starmer has betrayed Brexit – he should follow in Trump's footsteps instead 2
The Sun
40 minutes ago
- The Sun
Daniel Levy says Spurs aiming to WIN Champions League under ‘super' Thomas Frank and reveals why Ange had to go
DANIEL LEVY wants more European glory for Tottenham and has targeted winning the Champions League. The bullish Spurs chairman is also eyeing a Premier League title after declaring last month's Europa League triumph as 'not enough' to satisfy the club's sky-high ambitions. 7 7 7 7 Levy backed his call to sack Ange Postecoglou - the man who ended the club's 17-year trophy drought - and hailed replacement Thomas Frank as a 'super human-being'. The supremo, 63, declared: 'We've won a European trophy, but it's not enough. It's what we haven't done that's more important. 'We need to win the league. We want to win the Premier League, we want to win the Champions League.' Levy is into his 25th year of running Spurs, having won just two trophies in that time. Postecoglou delivered the most recent of those by beating Manchester United in last month's final in Bilbao, qualifying Spurs for the Champions League. But the Aussie, 59, became the 13th permanent boss to be fired by Levy after a disastrous 17th-placed finish in the Premier League. The club then turned to Brentford chief Frank, 51, who new Spurs CEO Vinai Venkatesham said was 'absolutely the No1' choice out of a list of more than 30 candidates. Speaking in an in-house interview alongside ex-Arsenal supremo Venkatesham, Levy added: 'We want to build on the success of winning a trophy last season. 'One of the things that stood out to me with Thomas is he's clearly highly intelligent, a great communicator, a super human-being, plus all the other technical aspects which are obviously important.' Levy, who has had supporters taking to the streets protesting against his running of the club this season, claimed he had 'very broad shoulders' to deal with criticism and that 'failure is not an option'. Why Thomas Frank is the PERFECT manager for Tottenham He claimed it was not his decision alone to fire Postecoglou and insists he still has an 'excellent relationship' with the ex-Celtic boss. The highest-paid director in the Premier League added: 'I'm very grateful to Ange. I don't regret appointing Ange. 'In his first season we finished fifth. In our second season, we were over the moon to win a trophy. 'But we need to compete in all competitions and we felt we needed to change. 'I've got an excellent relationship with him. I told him, 'You're always going to be part of our history'. Himself and his family are always welcome back. 'It was a collective decision, it wasn't my decision. We do everything together. 'Emotionally it was difficult, but we believe we've made the right decision for the club.' Levy also insisted that any funds brought in by the club's non-football use of the stadium - such as pop concerts, NFL matches and boxing fights, is for reinvesting in the team. He added: 'We're very proud of the stadium, but we need to win on the pitch. There's no point in having a wonderful stadium if you haven't got a wonderful team winning. 'The reason we do all these other events is to provide additional financial resources to the club which in turn, goes back into the team. Everything is about the team, everything.' Meanwhile, it is understood Tottenham are not planning to sell goalkeeper Guglielmo Vicario this summer despite suggestions of interest from AC Milan emerging from Italy. 7 7 7
The Sun
44 minutes ago
- The Sun
Labour waging ‘war on aspiration' that will devastate economy, warns vacuum tycoon Sir James Dyson
LABOUR is waging a punitive 'war on aspiration' that will devastate the economy, vacuum tycoon Sir James Dyson warns today. The self-made billionaire says will drive talent out of Britain and strangle growth. 3 3 In a withering verdict of the Chancellor's policies, he writes in The Sun: ' Labour is out to destroy. 'Those who aspire to create wealth and jobs, and those who grow our food, will all be punished. They hate those who set out to try, with an animus.' Sir James - ranked 4th in the Sunday Times Rich List with an estimated £20.1billion worth - accuses ministers of 'vindictive' actions because their measures will 'harm the economy'. Ms Reeves used her first Budget to increase taxes by £40billion - including a £25billion National Insurance raid on bosses - as well as taking away relief from farmers. Meanwhile Angela Rayner's package of employment rights laws will saddle bosses with costly regulations. Sir James warns: 'If Labour and the political class truly want long-term growth, they should ditch the new taxes and regulations that attack aspiration.' Last night the Treasury hit back: 'We are a pro- business government. Economic activity is at a record high with 500,000 more people in employment since we entered office. 'We are protecting the smallest businesses from the employer National Insurance rise, shielding 250,000 retail, hospitality and leisure business properties from paying full business rates and have capped corporation tax at 25 per cent - the lowest rate in the G7.' Blyth's Crisis: Locals Voice Anger Over Crime, Job Losses, and Political Betrayal 3
