Airbus to restructure Space Systems as consolidation talks continue

PARIS: Airbus is drawing up a turnaround plan for its struggling Space Systems business, industry sources said, without waiting for the outcome of European consolidation talks that include Italy’s Leonardo as well as France’s Thales.

Airbus also hopes to complete a separate Space Systems strategy review in the fourth quarter as it reels from 1.5 billion euros ($1.6 billion) of recent charges, they said.