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.
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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.
Readers!
Every February I run a fund-raising drive during my birthday month. This year I celebrate my 72nd birthday, and hope and plan to continue writing and posting on Behind the Black for as long as I am able.
I hope my readers will support this effort. As I did in my November fund-raising drive, I am offering autographed copies of my books for large donations. Donate $250 and you can have a choice of the hardback of either Genesis: the Story of Apollo 8 or Conscious Choice: The origins of slavery in America and why it matters today and for our future in outer space. Donate $200 and you can get an autographed paperback copy of either. IMPORTANT! If you donate enough to get a book, please email me separately to tell me which book you want and the address to mail it to.
Please consider supporting my work here at Behind the Black. My analysis of space, politics, and culture, taken from the perspective of an historian, is almost always on the money and ahead of the game. For example, in 2020 I correctly predicted that the COVID panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Every one of those 2020 conclusions has turned out right.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
You can support me either by giving a one-time contribution or a regular subscription. There are four ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation or subscription:
4. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above.
Mistakes were made…
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