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Reuters reports that Airbus and Safran "pledged on Thursday to make Europe competitive in the face of U.S. low-cost rival SpaceX as they completed a deal to merge their space launcher activities."
Under the final deal, French engine maker Safran will pay Airbus Group 750 million euros ($832 million) to ensure an equal 50/50 ownership split in the new venture -- slightly less than a previously expected figure of 800 million..
"They needed to complete this deal so that they are ready to design an entire launcher for civil customers rather than government requirements, forcing the agencies to accept what they have done for their customers rather than work with what governments want," an analyst said, asking not to be named.
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Airbus/Safran Space Launchers Merger
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Most people can do without the essentials, but not without the luxuries.
(Score: 2) by tibman on Saturday July 02 2016, @06:48PM
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