spacetoday.net: Airbus takes more losses on its space business

Posted: Sat, Feb 22, 2025, 11:19 AM ET (1619 GMT)
Airbus took another 300 million euros ($314 million) in charges on its space business as it continues discussions about joining forces with other European space companies. Airbus said Thursday that charge came after a review of a final program in its space portfolio, which it did not identify, and brings the total charges on its space business to 1.3 billion euros in 2024. Airbus said last year it had not properly evaluated technology risks on satellite programs when bidding on them, leading to the charges. Airbus executives said they do not anticipate any additional losses on its space business in 2025. Airbus is in "preliminary and nonbinding" discussions with Leonardo and Thales Alenia Space about combining their space business, with Airbus officials said was necessary to more effectively compete against American companies. They offered no timeline for completing those talks.