Airbus Becomes Sole Owner of Satellites Joint Venture With Eutelsat

By David Sachs

Airbus said it has bought out Eutelsat OneWeb to become the sole owner of Airbus OneWeb Satellites to increase the venture's competitiveness and efficiency.

The aerospace firm said Monday that its Airbus U.S. Space & Defense company finished the purchase of its 50% share of the joint venture with Eutelsat, a France-based satellite operator.

"We will continue mass producing small satellites for our customers and are excited for what the future holds for us on Florida's Space Coast as we move forward," said Robert Geckle, chairman and chief executive of the Airbus subsidiary said.

Financial details weren't released.

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(END) Dow Jones Newswires

01-29-24 1043ET