Airbus aims to correct errors that cost the company €200,000,000 more due to difficulties with space programs
Airbus assumed expenses in the amount of €600,000,000 ($650,000,000) as compensation for problems with satellite programs. This amount was €200,000,000 higher than previously expected and was announced during the publication of the company's financial results for 2023, which were published on February 15.
Airbus Chief Financial Officer Thomas Toepfer said in a briefing that the costs include revised timelines, more accurate cost estimates, and a reassessment of the company's commercial risk and capabilities. However, he did not specify the reasons that caused these problems.
Guillaume Faury, chief executive of Airbus, also avoided going into detail about the reasons for the problems. He pointed out that “2023 has been “a bumpy”» and explained that the accusations arose due to «overly optimistic assumptions» about long-term programs that required a review of spending. However, he stressed that the company will continue to implement the OneSat program, which was one of the sources of problems.
OneSat is a new line of communications satellites in geostationary orbit. Airbus has already taken on «large sums» for this program, and even more launches of these satellites are planned in the future.
Airbus executives also noted that the company is exploring the possibility of replacing two lost Pléiades Neo satellites, which were destroyed during a launch failure in December 2022. Airbus currently operates two Pléiades Neo satellites launched in 2021, which provide images with a resolution of up to 30 centimeters. Company representatives noted that images from Pléiades Neo are in high demand, so discussions are underway about possible options for replacing lost power.
Overall, these problems with satellite programs have an impact on Airbus's plans, but do not cause major changes in the space industry. The company continues to work to improve the internal processes and reliability of its satellite programs to maintain its leadership in aerospace technology.