Space firms plot new European satellite venture to take on Starlink as job cuts loom

Europe’s Airbus (AIR.PA), Thales (TCFP.PA), and Leonardo (LDOF.MI), are exploring plans to set up a new joint space company as they look to compete with Elon Musk’s Starlink.

“Project Bromo”, named after an Indonesian volcano, envisages a standalone European satellite champion modelled on missile maker MBDA, which is owned by Airbus, Leonardo and BAE Systems (BAES.L), three people familiar with the matter said.

Until now, Europe’s leading satellite makers have