By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > News > European countries boost funding for Ariane 6 rocket programme
News

European countries boost funding for Ariane 6 rocket programme

News Room
Last updated: 2023/11/06 at 4:23 PM
By News Room
Share
4 Min Read
SHARE

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.

An artist’s illustration of the Ariane 6 rocket
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.”

Read the full article here

News Room November 6, 2023 November 6, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Why the bitcoin sell-off may not be the start of a crypto winter

Watch full video on YouTube

What’s Behind The Unprecedented Growth In CEO Pay In The U.S.

Watch full video on YouTube

Tailwinds for US and global economic growth

Watch full video on YouTube

Why every brand now has a cafe

Watch full video on YouTube

NewtekOne, Inc. (NEWT) Q4 2025 Earnings Call Transcript

Operator Thank you for standing by, and welcome to NewtekOne, Inc.'s Fourth…

- Advertisement -
Ad imageAd image

You Might Also Like

News

NewtekOne, Inc. (NEWT) Q4 2025 Earnings Call Transcript

By News Room
News

Tesla lurches into the Musk robotics era

By News Room
News

Keir Starmer meets Xi Jinping in bid to revive strained UK-China ties

By News Room
News

Canadian Pacific Kansas City Limited (CP:CA) Q4 2025 Earnings Call Transcript

By News Room
News

SpaceX weighs June IPO timed to planetary alignment and Elon Musk’s birthday

By News Room
News

Japan’s discount election: why ‘dirt cheap’ shoppers became the key voters

By News Room
News

Logitech International S.A. (LOGI) Q3 2026 Earnings Call Transcript

By News Room
News

US to invest $1.6bn into rare earths group in bid to shore up key minerals

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?