Europe firms agree satellite merger to counter Starlink

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Europe firms agree satellite merger to counter Starlink


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<span>STORY: European aerospace groups have unveiled an initial deal to pool their loss-making satellite manufacturing activities.</span><span>They’ll combine forces after months of negotiations to counter the runaway growth of rivals led by Elon Musk’s Starlink.</span><span>The keenly awaited deal between Airbus, Thales and Leonardo aims to forge a new venture starting from 2027.</span><span>Although it’s subject to approval by European regulators who have resisted such moves in the past.</span><span>The unnamed new entity will employ 25,000 people across Europe.</span><span>And the companies said they expect annual revenues of over $7.5 billion based on last year’s figures.</span><span>Their statement added that Airbus will hold 35% of the venture, while Thales and Leonardo will each hold 32.5%.</span><span>But it would operate under joint control “with a balanced governance structure”.</span><span>Europe’s top satellite makers have long competed to build complex spacecraft in geostationary orbit.</span><span>But have been hit by the arrival of cheap tiny satellites in low Earth orbit.</span>


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