Airbus writes off $314 million for unnamed space program losses
Airbus on February 20, 2025 announced that it has written off $314 million due to issues in an unnamed program in its space division, adding to an almost billion dollar write-off in June 2024.
Airbus said Feb. 20 it took the 300-million-euro charge in the fourth quarter of 2024 as it completed reviews of a final, unnamed program in its space portfolio. The company had hinted in late October that it could take additional charges on that program as it completed a comprehensive review. “We had to go through the program in detail, bottom up, to fully review what we had in our portfolio, and that we have done,” Thomas Toepfer, chief financial officer of Airbus, said in a call with analysts. He did not identify that program.
The company took 900 million euros in charges in June 2024, and the company said the total charges against earnings on its space business in 2024 was 1.3 billion euros. Toepfer said that the company does not anticipate additional charges as it’s completed the review of all its space programs.
There are some hints that the program involved bad bids for satellite contracts and with suppliers. I can’t help wondering if it is also related to the overall failure of Ariane-6 to garner customers. Airbus builds and owns it in partnership with Safran.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon. from any other book seller, or direct from my ebook publisher, ebookit.
The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
Airbus on February 20, 2025 announced that it has written off $314 million due to issues in an unnamed program in its space division, adding to an almost billion dollar write-off in June 2024.
Airbus said Feb. 20 it took the 300-million-euro charge in the fourth quarter of 2024 as it completed reviews of a final, unnamed program in its space portfolio. The company had hinted in late October that it could take additional charges on that program as it completed a comprehensive review. “We had to go through the program in detail, bottom up, to fully review what we had in our portfolio, and that we have done,” Thomas Toepfer, chief financial officer of Airbus, said in a call with analysts. He did not identify that program.
The company took 900 million euros in charges in June 2024, and the company said the total charges against earnings on its space business in 2024 was 1.3 billion euros. Toepfer said that the company does not anticipate additional charges as it’s completed the review of all its space programs.
There are some hints that the program involved bad bids for satellite contracts and with suppliers. I can’t help wondering if it is also related to the overall failure of Ariane-6 to garner customers. Airbus builds and owns it in partnership with Safran.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon. from any other book seller, or direct from my ebook publisher, ebookit. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
Mistakes were made…
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