Leonardo, Airbus, Thales to assess feasibility of space alliance by end-July
PARIS: European aerospace companies
Leonardo
Thales
and
Airbus
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, 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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
19 minutes ago
- Time of India
European shares log biggest daily drop since April after US tariffs hike
European stocks logged their biggest one-day drop in over three months on Friday, at the end of a busy week as investors grappled with the repercussions of fresh U.S. levies on dozens of countries, including a 39% tariff on Switzerland. Investors shunned riskier equities globally as Trump continued his tariff blitz, announcing steep levies on exports from dozens of trading partners including Canada, Brazil, India and Taiwan with countries not listed subject to a base 10% rate ahead of a Friday trade deal deadline. Explore courses from Top Institutes in Please select course: Select a Course Category MBA Technology Data Science Management Artificial Intelligence Project Management Degree Operations Management Digital Marketing Cybersecurity Public Policy CXO Healthcare MCA Design Thinking Product Management Others Data Science Finance Leadership others PGDM Skills you'll gain: Analytical Skills Financial Literacy Leadership and Management Skills Strategic Thinking Duration: 24 Months Vellore Institute of Technology VIT Online MBA Starts on Aug 14, 2024 Get Details Skills you'll gain: Financial Management Team Leadership & Collaboration Financial Reporting & Analysis Advocacy Strategies for Leadership Duration: 18 Months UMass Global Master of Business Administration (MBA) Starts on May 13, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Saturday: This hearing aid from Boots is helping 50+ year olds! Boots Hearingcare Book Now Undo Healthcare stocks lost 1% after U.S. President Donald Trump sent letters to the leaders of 17 major pharmaceutical companies, including Novo Nordisk and Sanofi, outlining how they should slash U.S. prescription drug prices. The sector was already singed this week by Novo Nordisk's profit warning. The Denmark-listed Wegovy-maker shed 1.8% and logged its steepest weekly decline on record. "We saw during the week that companies like Novo Nordisk had different issues. European pharma is very close to bottoming and that's why it didn't react to the uncertainty around tariffs and policy," Anthi Tsouvali, a multi-asset strategist at UBS Global Wealth Management said. Live Events "Europe is an export market... if we see heightened tariffs all over the world and trade being subdued, then that will have an impact on European companies regardless." The pan-European STOXX 600 index slid 1.9% and marked its biggest one-week drop since early April when Trump unveiled his tariffs on world economies. The euro STOXX volatility index jumped 4.25 points to its highest in over one-month. The STOXX index has lost over 5% from its March peak, after coming within 2% of that level earlier this week, dragged down by a record plunge in Novo Nordisk shares, and as investors assess the implications of the U.S.-EU trade deal. Markets in Switzerland were shut for a holiday, but UK-listed Watches of Switzerland declined 6.8%, while a U.S.-listed exchange traded fund tracking the country's equities slid to a more than three-month low and was last down 1.2%. Most regional bourses were in the red, with Germany's blue-chip DAX down 2.7%, while Denmark's OMXC fell 1.8% to a nearly two-year low. Banks, that had rallied earlier in the week, were down 3.4% and were the top sectoral underperformer as they notched their biggest one-day drop since early April. Adding to the dour mood, U.S. data showed job growth slowed sharply in July, which boosted bets for an interest rate cut by the Federal Reserve next month, while traders also priced in a dovish move by the European Central Bank later this year.
Economic Times
an hour ago
- Economic Times
The India-Italy partnership as champions for the Global South and the Indo-Mediterranean
Agencies India-Italy partnership On the 1st of March 2006, addressing the US Congress, the then Italian Prime Minister Silvio Berlusconi warned that over the next 25 years, two billion more people would mostly be born in countries excluded from prosperity, creating a world split between six billion living in poverty and fewer than two billion in wealth. He said this imbalance would drive massive migration and risk fueling hatred and fundamentalism. The solution, he argued, was to lift poor nations out of misery by spreading democracy, good governance, human rights, and free-market economies, which he described as both a moral duty and a vital a world marked by volatility where conflicts have erupted across the Indo-Mediterranean, tensions in the Indo-Pacific escalate amid China's aggressive posture, and the persistent threat of Islamic extremism continues to challenge global stability, Berlusconi's speech now resonates with prophetic clarity. Nearly two decades after that historic address, Prime Minister Giorgia Meloni has at last crafted a strategic response aimed at addressing the very challenges Berlusconi warned of, warnings that until now successive Italian Prime Ministers and much of the global leadership had largely overlooked. Prime Minister Meloni's Piano Mattei is Italy's strategic framework for cooperation with Africa, focusing on five pillars: energy, water, agriculture, health, and education. Launched in early 2024 and rooted in 'partnership among equals,' it aims to tackle migration drivers and foster investment through public–private tools. She has successfully aligned the plan with the EU's Global Gateway, co-hosting a Rome summit with President Ursula von der Leyen in June 2025 where 11 agreements were signed. The initiative has positioned Italy as a key EU player in shaping Africa policy and development engagement, and Italy has taken the leadership of the EU's much lagging Africa outreach. Under Prime Minister Narendra Modi's leadership, India has doubled down on a Global South leadership agenda by shepherding the African Union's entry into the G20 at the New Delhi Leaders' Summit in September 2023, which elevated African representation in the forum's core deliberations. It has convened the Voice of Global South Summits (January 2023 and August 2024) to channel developing country priorities into global diplomacy. Looking ahead, New Delhi is set to host the Quad Leaders' Summit in 2025, positioning Indo Pacific security dialogues alongside development concerns of the Global South. India is also a central player in an expanded BRICS, with the 2025 leaders' meeting in Rio de Janeiro offering another platform where it engaged in dialogues on finance, development and South-South partnerships. Without directly mentioning it, both Italy and India seek to counter China's debt heavy Belt and Road Initiative (BRI) and its rising military influence in the global south, especially Africa, a young continent, rich in natural resources and full of future potential. While PM Meloni seeks to harness the might of the European Union, PM Modi uses India's centuries of goodwill, colonial era diaspora and soft power. Despite using different strategies both agree on the importance of Africa and the global south to the future of humanity. India and Italy are both firm champions of a more equal, value driven world, where trade wars, proxy wars, natural calamities and pandemics are especially taxing to the poor and the vulnerable. Italy's vision of an enlarged Mediterranean extending to the Horn of Africa aligns naturally with India's MAHASAGAR initiative (Mutual and Holistic Advancement for Security and Growth Across Regions), launched in March 2025 which starts at the Gulf of Aden. Building on its predecessor SAGAR (2015), which focused largely on the Indian Ocean Region, MAHASAGAR broadens India's engagement with the wider Global South, including East Africa, by emphasizing capacity building, sustainable blue-economy growth, trade, connectivity, and security cooperation. It has cemented India's status as the Indian Ocean's primary maritime security provider and a 'first responder' in crises. MAHASAGAR is designed to counter threats such as piracy, illegal fishing, and maritime terrorism while reinforcing India's commitment to a free and rules-based maritime order, reflecting its ambitions as a Global South leader in ocean the shared geography of the Indo-Mediterranean, Italy and India have much to gain by leveraging the synergies between their ambitious initiatives. The challenges they face are common, and both countries are signatories to the India-Middle East-Europe Economic Corridor (IMEC), a major trade route linking the Indo-Pacific with Europe and the United States through the Middle East. While IMEC, which brings together the US, EU, India, Italy, Germany, France, UAE, Saudi Arabia, Israel, and potentially Greece and Cyprus, will require time to develop its infrastructure, a dedicated Indo-Mediterranean corridor between Italy and India could serve as a vital interim upcoming entry into force of the India - European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) on 1st October 2025 underscores this need. Switzerland, the largest EFTA economy and demographically the largest member, is landlocked and heavily dependent on Italian ports for access to India. Experts and entrepreneurs point out the advantage of establishing a dedicatedItaly-India-Switzerland maritime trade corridor which would boost TEPA's implementation while laying the groundwork for IMEC's eventual operation. Just as Trieste could serve as India's gateway to Europe's industrial heartlands and Central and Eastern Europe as Europe's IMEC terminal, other Italian ports could become India's entry points into Switzerland and Lombardy, Italy's economic powerhouse. Above all, Italy's southern ports and the infrastructure projects planned under the Mattei Plan complement India's Africa-focused Mahasagar strategy. The strong personal rapport between the two prime ministers and their alignment on strategic objectives further strengthen this partnership. With the leadership of Prime Ministers Meloni and Modi, two cultural superpowers could very well be lighthouses to ships in today's storms and bring them to the shore. Senator Giulio Terzi di Sant'Agata is the President of the Italy-India Parliamentary friendship group, and Vas Shenoy is the Chief Representative for Italy of the Indian Chamber of Commerce (ICC).
Time of India
2 hours ago
- Time of India
The India-Italy partnership as champions for the Global South and the Indo-Mediterranean
On the 1st of March 2006, addressing the US Congress, the then Italian Prime Minister Silvio Berlusconi warned that over the next 25 years, two billion more people would mostly be born in countries excluded from prosperity, creating a world split between six billion living in poverty and fewer than two billion in wealth. He said this imbalance would drive massive migration and risk fueling hatred and fundamentalism. The solution, he argued, was to lift poor nations out of misery by spreading democracy, good governance, human rights, and free-market economies, which he described as both a moral duty and a vital interest. In a world marked by volatility where conflicts have erupted across the Indo-Mediterranean, tensions in the Indo-Pacific escalate amid China's aggressive posture, and the persistent threat of Islamic extremism continues to challenge global stability, Berlusconi's speech now resonates with prophetic clarity. Nearly two decades after that historic address, Prime Minister Giorgia Meloni has at last crafted a strategic response aimed at addressing the very challenges Berlusconi warned of, warnings that until now successive Italian Prime Ministers and much of the global leadership had largely overlooked. Explore courses from Top Institutes in Please select course: Select a Course Category Public Policy Management Finance Artificial Intelligence MBA Cybersecurity PGDM Operations Management Design Thinking CXO healthcare Product Management MCA Data Science Data Science Technology Project Management Digital Marketing Others Leadership Healthcare Degree Data Analytics others Skills you'll gain: Duration: 12 Months IIM Calcutta Executive Programme in Public Policy and Management Starts on undefined Get Details Skills you'll gain: Economics for Public Policy Making Quantitative Techniques Public & Project Finance Law, Health & Urban Development Policy Duration: 12 Months IIM Kozhikode Professional Certificate Programme in Public Policy Management Starts on Mar 3, 2024 Get Details Prime Minister Meloni's Piano Mattei is Italy's strategic framework for cooperation with Africa, focusing on five pillars: energy, water, agriculture, health, and education. Launched in early 2024 and rooted in 'partnership among equals,' it aims to tackle migration drivers and foster investment through public–private tools. She has successfully aligned the plan with the EU's Global Gateway, co-hosting a Rome summit with President Ursula von der Leyen in June 2025 where 11 agreements were signed. The initiative has positioned Italy as a key EU player in shaping Africa policy and development engagement, and Italy has taken the leadership of the EU's much lagging Africa outreach. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like When the Camera Clicked at the Worst Possible Time Read More Under Prime Minister Narendra Modi's leadership, India has doubled down on a Global South leadership agenda by shepherding the African Union's entry into the G20 at the New Delhi Leaders' Summit in September 2023, which elevated African representation in the forum's core deliberations. It has convened the Voice of Global South Summits (January 2023 and August 2024) to channel developing country priorities into global diplomacy. Looking ahead, New Delhi is set to host the Quad Leaders' Summit in 2025, positioning Indo Pacific security dialogues alongside development concerns of the Global South. India is also a central player in an expanded BRICS, with the 2025 leaders' meeting in Rio de Janeiro offering another platform where it engaged in dialogues on finance, development and South-South partnerships. Without directly mentioning it, both Italy and India seek to counter China's debt heavy Belt and Road Initiative (BRI) and its rising military influence in the global south, especially Africa, a young continent, rich in natural resources and full of future potential. While PM Meloni seeks to harness the might of the European Union, PM Modi uses India's centuries of goodwill, colonial era diaspora and soft power. Despite using different strategies both agree on the importance of Africa and the global south to the future of humanity. India and Italy are both firm champions of a more equal, value driven world, where trade wars, proxy wars, natural calamities and pandemics are especially taxing to the poor and the vulnerable. Live Events Italy's vision of an enlarged Mediterranean extending to the Horn of Africa aligns naturally with India's MAHASAGAR initiative (Mutual and Holistic Advancement for Security and Growth Across Regions), launched in March 2025 which starts at the Gulf of Aden. Building on its predecessor SAGAR (2015), which focused largely on the Indian Ocean Region, MAHASAGAR broadens India's engagement with the wider Global South, including East Africa, by emphasizing capacity building, sustainable blue-economy growth, trade, connectivity, and security cooperation. It has cemented India's status as the Indian Ocean's primary maritime security provider and a 'first responder' in crises. MAHASAGAR is designed to counter threats such as piracy, illegal fishing, and maritime terrorism while reinforcing India's commitment to a free and rules-based maritime order, reflecting its ambitions as a Global South leader in ocean diplomacy. Given the shared geography of the Indo-Mediterranean, Italy and India have much to gain by leveraging the synergies between their ambitious initiatives. The challenges they face are common, and both countries are signatories to the India-Middle East-Europe Economic Corridor (IMEC), a major trade route linking the Indo-Pacific with Europe and the United States through the Middle East. While IMEC, which brings together the US, EU, India, Italy, Germany, France, UAE, Saudi Arabia, Israel, and potentially Greece and Cyprus, will require time to develop its infrastructure, a dedicated Indo-Mediterranean corridor between Italy and India could serve as a vital interim step. The upcoming entry into force of the India - European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) on 1st October 2025 underscores this need. Switzerland, the largest EFTA economy and demographically the largest member, is landlocked and heavily dependent on Italian ports for access to India. Experts and entrepreneurs point out the advantage of establishing a dedicated Italy-India-Switzerland maritime trade corridor which would boost TEPA's implementation while laying the groundwork for IMEC's eventual operation. Just as Trieste could serve as India's gateway to Europe's industrial heartlands and Central and Eastern Europe as Europe's IMEC terminal, other Italian ports could become India's entry points into Switzerland and Lombardy, Italy's economic powerhouse. Above all, Italy's southern ports and the infrastructure projects planned under the Mattei Plan complement India's Africa-focused Mahasagar strategy. The strong personal rapport between the two prime ministers and their alignment on strategic objectives further strengthen this partnership. With the leadership of Prime Ministers Meloni and Modi, two cultural superpowers could very well be lighthouses to ships in today's storms and bring them to the shore. Senator Giulio Terzi di Sant'Agata is the President of the Italy-India Parliamentary friendship group, and Vas Shenoy is the Chief Representative for Italy of the Indian Chamber of Commerce (ICC).
