BusinessPostCorner.com
No Result
View All Result
Thursday, July 16, 2026
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

European countries boost funding for Ariane 6 rocket programme

November 6, 2023
in Finance
Reading Time: 4 mins read
A A
0
European countries boost funding for Ariane 6 rocket programme
ShareShareShareShareShare

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

France, Germany and Italy struck a deal on Monday to pump €340mn a year more into the troubled Ariane 6 heavy-lift rocket programme, in a bid to ensure the future of Europe’s sovereign access to space.

As part of the long-awaited tripartite agreement, Europe’s approach to commissioning launch services will open up to competition, in a fundamental shift that will put pressure on Airbus and Safran, the joint owners of ArianeGroup.

Italy has also opted to withdraw its Vega-C medium-lift rocket from ArianeGroup’s marketing arm, Arianespace. Vega-C will eventually be operated by Italian group Avio.

The agreement underscores Europe’s anxiety to close the gap in low-cost launch capacity with Elon Musk’s SpaceX in the US, which is dominating the race to exploit the rapidly developing commercial space economy.

In a decision that has been widely criticised since the programme was launched in 2014, Ariane 6 was not designed to be reusable, in order to preserve jobs.

Bruno Le Maire, French finance minister, said the three-way deal “opened a new era for European launch. It will allow Europe to continue to play a role as a great space power.”

The three countries have agreed to provide €340mn a year in extra funding to cover the costs of flights 16 to 42 of Ariane 6, which are expected to launch between 2027 and 2029-30.

The decision to give extra funding to the Ariane 6 rocket programme was hard won, said Bruno Le Maire, French finance minister © David Ducros

The maiden flight is set for next year, but it is running some four years behind schedule. The delays have left Europe with no sovereign launch capability.

Ariane 5 made its last flight in July, while the new Vega-C medium-lift rocket was grounded after a flight failure late last year. Europe stopped using Russia’s Soyuz rocket after the full-scale invasion of Ukraine. 

Europe has had to book flights on SpaceX vehicles for next year’s planned launch of satellites into its Galileo navigation system.

The decision to give extra funding to Ariane 6 was hard won. Le Maire said it had come only after months of discussion and negotiation. France and Germany in particular have been at odds over funding for Ariane 6, which is expected to be more expensive than SpaceX’s Falcon 9. 

Video: Moon rush: the launch of a lunar economy | FT Film

France funds 55 per cent of the Ariane 6 programme and will continue to assume that proportion of the extra funding, Le Maire said.

Josef Aschbacher, director-general of the European Space Agency, hailed the progress on Ariane 6 as an important step towards solving the “crisis” in European access to space. Europe was on the brink of a “historic moment” in space transportation as it moved to a more competitive model for the development of launchers, he added.

He said he hoped to be able to announce a date for Ariane 6’s inaugural flight after a test later this month. “We need to get Ariane 6 on to the launch pad as soon as possible.”

Credit: Source link

ShareTweetSendPinShare
Previous Post

Taylor Swift’s blockbuster re-recording of 1989 could reshape the music industry

Next Post

Firms look at ways to attract young people to accounting

Next Post
Firms look at ways to attract young people to accounting

Firms look at ways to attract young people to accounting

How Aldi is taking on US supermarkets with its  almond butter

How Aldi is taking on US supermarkets with its $4 almond butter

July 12, 2026
On the move: PwC sponsors Texas cricket

On the move: PwC sponsors Texas cricket

July 10, 2026
IRS rules free life insurance exchanges from tax traps

IRS rules free life insurance exchanges from tax traps

July 10, 2026
Firm360 announces tax prep automation capacities

Firm360 announces tax prep automation capacities

July 15, 2026
‘Cool in 90 seconds’ – the fake portable air conditioners sweeping the internet

‘Cool in 90 seconds’ – the fake portable air conditioners sweeping the internet

July 10, 2026
Gender pay gap grows even as women earn more than ever

Gender pay gap grows even as women earn more than ever

July 14, 2026
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

TSMC pledges another 0bn to expand US production in Arizona

TSMC pledges another $100bn to expand US production in Arizona

July 16, 2026
Current price of oil as of July 16, 2026

Current price of oil as of July 16, 2026

July 16, 2026

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!