{"slug":"airbus","name":"에어버스","name_en":"Airbus","ticker":"AIR.PA","updated_at":"2026-07-12T05:40:02.071386+00:00","canonical":"https://valuechain.wiki/airbus","same_as":["https://finance.yahoo.com/quote/AIR.PA"],"citable":"밸류체인 그래프 기준 에어버스의 직접 연결 기업은 9곳(관계 기준 공급 5·매출 2·투자 6)이고, 사슬을 2차까지 넓히면 13곳에 닿는다. 링크의 근거 출처는 24건이며 그중 1차공시가 2건이다 (valuechain.wiki, 2026-07-12 기준).","citable_en":"Per the valuechain.wiki graph, Airbus is directly linked to 9 companies (5 supply, 2 revenue, 6 investment relationships) and reaches 13 companies within two hops; the links are backed by 24 dated sources, 2 of them primary filings (as of 2026-07-12).","kicker":"유럽의 항공기·헬기·방산우주 통합 제조사, 8,754대 백로그를 쥔 상용기 세계 1위","kicker_en":"Europe's aerospace prime spanning jets, helicopters and defence-space, sitting on a record 8,754-aircraft backlog","lead":"에어버스는 상용기(A220·A320·A330·A350), 헬리콥터, 방산·우주를 아우르는 유럽 최대 항공우주 그룹이다. FY2025 연결 매출은 733억 유로로 전년(692억) 대비 6% 늘었고, 상용기 부문이 526억 유로로 매출의 약 72%를 차지한다. 2025년 상용기 793대(A320계열 607대 포함)를 인도했고 연말 수주잔고는 8,754대로 사상 최대, 그룹 전체 수주장부 가치는 6,190억 유로에 달한다. 최대 고객은 인도 저비용항공사 인디고로 1,200대 이상의 A320계열 주문을 쌓아 전체 백로그의 약 17%를 홀로 차지한다. 우주 사업은 방산·우주 부문(매출 134억 유로)의 핵심으로, 유텔셋의 2세대 OneWeb 저궤도 위성 누적 440기를 툴루즈 신규 라인에서 제작하고 미국 보이저 테크놀로지스와의 합작사 스타랩(Airbus 지분 30.5%)에서 상업용 우주정거장의 거주 모듈 리드 아키텍트를 맡는다. 2025년 10월에는 탈레스·레오나르도와 위성사업 합병(Project Bromo)에 합의해 유럽판 위성 챔피언 구축을 추진 중이다.","lead_en":"Airbus is Europe's largest aerospace group, spanning commercial aircraft (A220/A320/A330/A350), helicopters and defence-and-space. FY2025 consolidated revenues rose 6% to €73.4 billion (2024: €69.2 billion), with the commercial aircraft division at €52.6 billion, about 72% of the total. Airbus delivered 793 commercial aircraft in 2025 (including 607 A320-family jets) and closed the year with a record backlog of 8,754 aircraft and a group order book worth €619 billion. Its single largest customer is Indian low-cost carrier IndiGo, whose 1,200-plus A320-family orders account for roughly 17% of the entire backlog. Space is central to the €13.4 billion Defence and Space division: Airbus is building a cumulative 440 second-generation OneWeb LEO satellites for Eutelsat on a new Toulouse line and is lead architect of the habitation module for Starlab, its commercial space station joint venture with U.S.-based Voyager Technologies (Airbus holds a 30.5% stake). In October 2025 it agreed to merge its satellite business with Thales and Leonardo under 'Project Bromo' to build a European satellite champion.","segments":{"parts":[{"desc":"매출 72%의 핵심 — A220/A320/A330/A350. 8,754대 백로그가 수년 매출을 선확정하나, 엔진·기체 공급망이 인도 대수의 병목.","name":"상용기 (Commercial Aircraft)"},{"desc":"민수·군용 회전익 — 안정적 서비스·수주 기반의 완충 사업.","name":"헬리콥터 (Helicopters)"},{"desc":"매출 18%·흑자 전환 — 유로파이터·A400M·MRTT와 위성(유텔셋 OneWeb·스타랩). 프로젝트 브로모로 위성사업 통합 추진.","name":"방산·우주 (Defence and Space)"}],"total":"FY2025 연결 매출 733억 유로 (전년 692억 대비 +6%)","concentration":"상용기 526억 유로(약 72%)·헬기 90억 유로·방산우주 134억 유로(약 18%). 상용기 백로그 8,754대 중 인디고 단독 약 17%. 미 국방부(DoD) 직접 매출 비중은 미미하며 방산·우주 고객은 주로 유럽 정부·NATO."},"segments_en":{"parts":[{"desc":"72% of revenue, the core — A220/A320/A330/A350. The 8,754-jet backlog pre-books years of revenue, but the engine and airframe supply chain is the bottleneck on deliveries.","name":"Commercial Aircraft"},{"desc":"Civil and military rotorcraft — a buffer business on a steady service and order base.","name":"Helicopters"},{"desc":"18% of revenue, now profitable — Eurofighter, A400M, MRTT and satellites (Eutelsat OneWeb, Starlab); consolidating the satellite business via Project Bromo.","name":"Defence and Space"}],"total":"FY2025 consolidated revenue €73.4B (+6% vs €69.2B in 2024)","concentration":"Commercial Aircraft €52.6B (~72%), Helicopters €9.0B, Defence and Space €13.4B (~18%). IndiGo alone is ~17% of the 8,754-aircraft backlog. Direct U.S. DoD revenue is minimal; defence-space customers are mainly European governments and NATO."},"returns_yearly":{"2021":34.8,"2022":3.9,"2023":30.5,"2024":15,"2025":18.3,"2026":3.9},"return_asof":"2026-07-10","value_chain":{"leading":[{"slug":"voyager-technologies","name":"보이저 테크놀로지스","name_en":"Voyager Technologies","tier":1,"returns_yearly":{"2026":19.2}},{"slug":"eutelsat","name":"유텔샛","name_en":"Eutelsat Group","tier":1,"returns_yearly":{"2021":17.8,"2022":-30.7,"2023":-51.8,"2024":-48.9,"2025":32.1,"2026":3.2}}],"benefiting":[{"slug":"voyager-technologies","name":"보이저 테크놀로지스","name_en":"Voyager Technologies","tier":1,"returns_yearly":{"2026":19.2}},{"slug":"toray-industries","name":"도레이","name_en":"Toray Industries","tier":1,"returns_yearly":{"2021":8.3,"2022":12.5,"2023":-4.8,"2024":49.2,"2025":7.5,"2026":1.3}},{"slug":"thales","name":"Thales","name_en":"Thales","tier":1,"returns_yearly":{"2021":12.5,"2022":52.5,"2023":14,"2024":17.8,"2025":66.6,"2026":-11.6}},{"slug":"kai","name":"한국항공우주산업 (KAI)","name_en":"Korea Aerospace Industries","tier":1,"returns_yearly":{"2021":15.4,"2022":34.6,"2023":7,"2024":5.5,"2025":217.9,"2026":-14}},{"slug":"arianegroup","name":"아리안그룹","name_en":"ArianeGroup","tier":1,"returns_yearly":null},{"slug":"mda-space","name":"MDA 스페이스","name_en":"MDA Space","tier":2,"returns_yearly":{"2022":-32.6,"2023":80,"2024":156.3,"2025":-9.8,"2026":80.8}},{"slug":"lockheed-martin","name":"Lockheed Martin","name_en":"Lockheed Martin","tier":2,"returns_yearly":{"2021":3.2,"2022":40.5,"2023":-4.3,"2024":10,"2025":2.5,"2026":9.5}},{"slug":"mitsubishi","name":"미쓰비시상사","name_en":"Mitsubishi","tier":2,"returns_yearly":{"2021":52.5,"2022":15.9,"2023":84.1,"2024":-0.3,"2025":70.2,"2026":8.7}},{"slug":"leonardo","name":"Leonardo","name_en":"Leonardo S.p.A.","tier":2,"returns_yearly":{"2021":11.3,"2022":50.3,"2023":73.6,"2024":89.1,"2025":88.1,"2026":-6.8}},{"slug":"palantir","name":"Palantir","name_en":"Palantir Technologies","tier":2,"returns_yearly":{"2021":-22.7,"2022":-64.7,"2023":167.4,"2024":340.5,"2025":135,"2026":-28.7}},{"slug":"moog","name":"무그","name_en":"Moog","tier":3,"returns_yearly":{"2021":3.4,"2022":9.8,"2023":66.6,"2024":36.8,"2025":24.5,"2026":67.5}},{"slug":"mercury-systems","name":"Mercury Systems","name_en":"Mercury Systems","tier":3,"returns_yearly":{"2021":-37.5,"2022":-18.7,"2023":-18.3,"2024":14.8,"2025":73.8,"2026":47.9}},{"slug":"teledyne","name":"Teledyne","name_en":"Teledyne Technologies","tier":3,"returns_yearly":{"2021":11.5,"2022":-8.5,"2023":11.6,"2024":4,"2025":10,"2026":24.3}},{"slug":"ge-aerospace","name":"GE 에어로스페이스","name_en":"GE Aerospace","tier":3,"returns_yearly":{"2021":9.7,"2022":-10.9,"2023":95.7,"2024":64.8,"2025":85.7,"2026":17}},{"slug":"rocket-lab","name":"Rocket Lab","name_en":"Rocket Lab","tier":3,"returns_yearly":{"2021":21.5,"2022":-69.3,"2023":46.7,"2024":360.6,"2025":173.9,"2026":16.2}},{"slug":"nvidia","name":"NVIDIA","name_en":"NVIDIA","tier":3,"returns_yearly":{"2021":125.5,"2022":-50.3,"2023":239,"2024":171.2,"2025":38.9,"2026":13.3}},{"slug":"firefly-aerospace","name":"파이어플라이 에어로스페이스","name_en":"Firefly Aerospace","tier":3,"returns_yearly":{"2026":7.7}},{"slug":"rtx","name":"RTX","name_en":"RTX","tier":3,"returns_yearly":{"2021":23.3,"2022":20,"2023":-14.4,"2024":40.8,"2025":61.4,"2026":7.6}},{"slug":"l3harris","name":"L3해리스","name_en":"L3Harris","tier":3,"returns_yearly":{"2021":15,"2022":-0.5,"2023":3.7,"2024":1.9,"2025":42.3,"2026":-0.2}},{"slug":"berkshire-hathaway","name":"Berkshire Hathaway","name_en":"Berkshire Hathaway","tier":3,"returns_yearly":{"2021":29,"2022":3.3,"2023":15.5,"2024":27.1,"2025":10.9,"2026":-1.8}},{"slug":"mitsubishi-motors","name":"미쓰비시자동차","name_en":"Mitsubishi Motors","tier":3,"returns_yearly":{"2021":37.1,"2022":53.5,"2023":-3.9,"2024":0.9,"2025":-15.3,"2026":-3.2}},{"slug":"avio","name":"아비오","name_en":"Avio","tier":3,"returns_yearly":{"2021":-9.9,"2022":-4.7,"2023":-17.1,"2024":98.4,"2025":117,"2026":-10.8}},{"slug":"oracle","name":"Oracle","name_en":"Oracle","tier":3,"returns_yearly":{"2021":36.9,"2022":-4.6,"2023":30.9,"2024":60,"2025":18.1,"2026":-27.4}},{"slug":"karman","name":"Karman","name_en":"Karman Holdings","tier":3,"returns_yearly":{"2026":-31.7}},{"slug":"kratos","name":"Kratos","name_en":"Kratos Defense","tier":3,"returns_yearly":{"2021":-29.3,"2022":-46.8,"2023":96.6,"2024":30,"2025":187.8,"2026":-36.5}}],"analysis":"에어버스의 논점은 '8,754대 백로그가 매출을 선확정한 상용기 듀오폴리 한 축'이다. FY2025 매출 733억유로(+6%)·상용기 72%로, 보잉과 양분한 시장에서 A320계열 램프업과 사상 최대 수주잔고(주문장부 6,190억유로)가 향후 수년 매출 가시성을 준다. 진짜 병목은 수요가 아니라 공급 — 스피릿 에어로시스템스 공장 내재화, GE(LEAP)·RTX(GTF) 엔진 공급, 도레이 탄소섬유 등 공급망이 인도 대수를 좌우한다. 방산·우주(18%)는 프로젝트 브로모(탈레스·레오나르도 위성 합병)와 스타랩·유텔셋 OneWeb으로 유럽 우주 챔피언을 겨냥하며 흑자 전환했다. 인디고 단독 17% 백로그 편중과 A320 월산 목표 달성 여부가 관전 포인트다.","analysis_en":"Airbus's thesis is 'one side of a commercial-aircraft duopoly whose 8,754-jet backlog pre-books revenue.' FY2025 revenue of EUR 73.4B (+6%), 72% commercial, means that in a market split with Boeing, the A320-family ramp and a record backlog (a EUR 619B order book) give years of revenue visibility. The real bottleneck is supply, not demand — in-sourcing Spirit AeroSystems plants, engine supply from GE (LEAP) and RTX (GTF), and Toray carbon fiber all govern delivery counts. Defence and Space (18%) has turned profitable and targets a European space champion via Project Bromo (the Thales/Leonardo satellite merger) and Starlab/Eutelsat OneWeb. IndiGo's 17% backlog concentration and whether the A320 monthly-rate targets are met are what to watch.","analysis_asof":"2026-07-10"},"edges":[{"direction":"revenue","counterparty":"Eutelsat Group","counterparty_slug":"eutelsat","confidence":"high","metric":{"type":"unit_count","unit":"satellites","as_of":"2026-01-13","basis":"2세대 OneWeb 누적 수주 (100기 + 340기)","value":440,"period":"2024-12 to 2026-01","basis_en":"cumulative Gen2 OneWeb order (100 + 340 units)"},"note":"에어버스 방산·우주는 유텔셋의 2세대 OneWeb 저궤도 위성을 제작한다. 2024년 12월 100기에 이어 2026년 1월 340기를 추가 수주해 누적 440기 규모다. 위성은 툴루즈 신규 생산라인에서 만들며 인도는 2026년 말 개시된다. 기존 유텔셋 노드의 비용(cost) 엣지에 대응하는 매출(revenue) 미러.","note_en":"Airbus Defence and Space builds Eutelsat's second-generation OneWeb LEO satellites, 100 units ordered in December 2024 plus a further 340 awarded in January 2026, for a cumulative 440. They are made on a newly installed Toulouse production line with deliveries starting from end-2026. This is the revenue mirror of the cost edge on the existing Eutelsat node.","sources":[{"stance":"confirms","publisher":"SpaceNews","publisher_en":"SpaceNews","kind":"news","lang":"en","published_at":"2026-01-13","url":"https://spacenews.com/eutelsat-orders-340-additional-satellites-to-replenish-oneweb-constellation/","title":"Eutelsat orders 340 additional satellites to replenish OneWeb constellation","title_en":"Eutelsat orders 340 additional satellites to replenish OneWeb constellation","excerpt":"Eutelsat orders 340 additional satellites to replenish OneWeb constellation","excerpt_en":"Eutelsat orders 340 additional satellites to replenish OneWeb constellation"},{"stance":"confirms","publisher":"Airbus","publisher_en":"Airbus","kind":"ir","lang":"en","published_at":"2026-01-12","url":"https://www.airbus.com/en/newsroom/press-releases/2026-01-airbus-awarded-eutelsat-contract-for-further-340-low-earth-orbit","title":"Airbus awarded Eutelsat contract for further 340 low Earth orbit OneWeb satellites","title_en":"Airbus awarded Eutelsat contract for further 340 low Earth orbit OneWeb satellites","excerpt":"Together with the previous batch of 100 satellites procured in December 2024, the total number of satellites ordered by Eutelsat amounts to 440. The satellites will be manufactured at Airbus Defence and Space's Toulouse facility on a newly installed production line, with delivery from the end of 2026.","excerpt_en":"Together with the previous batch of 100 satellites procured in December 2024, the total number of satellites ordered by Eutelsat amounts to 440. The satellites will be manufactured at Airbus Defence and Space's Toulouse facility on a newly installed production line, with delivery from the end of 2026."}]},{"direction":"revenue","counterparty":"Voyager Technologies","counterparty_slug":"voyager-technologies","confidence":"high","metric":{"type":"commitment","unit":"USD millions","as_of":"2025-03-31","basis":"스타랩 관련 자금지원 보조금 기여 약정 상한","value":80,"period":"as of 2025-03-31","basis_en":"cap on committed funded grant contributions for Starlab"},"note":"에어버스는 보이저 테크놀로지스가 주도하는 상업용 우주정거장 합작사 스타랩(Starlab)에서 거주·작업 모듈의 리드 아키텍트로 기술설계·엔지니어링을 제공한다. 보이저 S-1 공시에 따르면 에어버스는 스타랩 관련 자금지원 보조금 프로그램에서 최대 총 8,000만 달러를 기여하기로 합의했다(현재까지 실납입 없음). 기존 voyager 노드 비용 엣지의 매출 미러.","note_en":"Airbus is lead architect of the habitation module for Starlab, the commercial space station joint venture led by Voyager Technologies, providing technical design and engineering. Per Voyager's S-1, Airbus agreed to contribute up to an aggregate $80.0 million in funded grant programs for Starlab (no capital contributed to date). This is the revenue mirror of the cost edge on the existing Voyager node.","sources":[{"stance":"mentions","publisher":"Voyager Technologies","publisher_en":"Voyager Technologies","kind":"ir","lang":"en","published_at":"2025-06-11","url":"https://voyagertechnologies.com/starlab/","title":"Starlab Space Station","title_en":"Starlab Space Station","excerpt":"Airbus ... has the responsibility for constructing Starlab's habitat.","excerpt_en":"Airbus ... has the responsibility for constructing Starlab's habitat."},{"stance":"confirms","publisher":"미국 증권거래위원회(SEC)","publisher_en":"U.S. Securities and Exchange Commission","kind":"filing","lang":"en","published_at":"2025-06-02","url":"https://www.sec.gov/Archives/edgar/data/1788060/000162828025029524/voyager-sx1a2.htm","title":"Voyager Technologies Form S-1/A","title_en":"Voyager Technologies Form S-1/A","excerpt":"In addition, Airbus agreed to contribute to Starlab JV up to an aggregate amount of $80.0 million in funded grant programs awarded to Airbus or its affiliates specifically for use in connection with Starlab or the technologies to be deployed in connection therewith. To date, Airbus has not made any capital contributions to Starlab JV.","excerpt_en":"In addition, Airbus agreed to contribute to Starlab JV up to an aggregate amount of $80.0 million in funded grant programs awarded to Airbus or its affiliates specifically for use in connection with Starlab or the technologies to be deployed in connection therewith. To date, Airbus has not made any capital contributions to Starlab JV."},{"stance":"mentions","publisher":"워싱턴테크놀로지","publisher_en":"Washington Technology","kind":"news","lang":"en","published_at":"2025-05-15","url":"https://www.washingtontechnology.com/companies/2025/05/voyager-further-illuminates-space-strategy-ipo-filing/405426/","title":"Voyager further illuminates space strategy in IPO filing","title_en":"Voyager further illuminates space strategy in IPO filing","excerpt":"에어버스는 지분 투자에 더해 보이저의 스타랩 정거장을 설계·제작하는 유럽 측 제조 파트너로 참여하는 것으로 언급된다.","excerpt_en":"Beyond the equity stake, Airbus is referenced as the European design and manufacturing partner building Voyager's Starlab station."}]},{"direction":"cost","counterparty":"GE Aerospace","counterparty_slug":"ge-aerospace","confidence":"high","metric":{"type":"engine_share","unit":"%","as_of":"2024-12-31","basis":"A320neo 주문 중 LEAP 선택 비율","value":75,"period":"2024","basis_en":"share of A320neo orders selecting LEAP"},"note":"A320neo 계열의 다른 엔진 선택지는 CFM International의 LEAP-1A로, CFM은 GE Aerospace와 사프란(Safran)의 50:50 합작사다. 2024년 기준 A320neo 주문의 약 75%가 LEAP를 선택해 에어버스의 최대 협력 엔진 공급 축이다.","note_en":"The other A320neo engine option is CFM International's LEAP-1A; CFM is a 50:50 joint venture of GE Aerospace and Safran. As of 2024, LEAP was selected on roughly 75% of A320neo orders, making it Airbus's dominant narrow-body engine supply relationship.","sources":[{"stance":"confirms","publisher":"AirInsight","publisher_en":"AirInsight","kind":"analysis","lang":"en","published_at":"2024-06-01","url":"https://airinsight.com/cfm-leap-vs-pw-gtf/","title":"A320neo 엔진 옵션: CFM LEAP-1A(GE·사프란) vs P&W GTF(RTX)","title_en":"A320neo engine options: CFM LEAP-1A (GE/Safran) vs P&W GTF (RTX)","excerpt":"A320neo의 한 엔진 옵션은 CFM International LEAP-1A(GE 에어로스페이스·사프란 50:50 JV) — 2019년 기준 A320neo 패밀리에서 약 61% 점유.","excerpt_en":"One A320neo engine option is CFM International's LEAP-1A (a 50:50 JV of GE Aerospace and Safran) — about 61% share on the A320neo family as of 2019."}]},{"direction":"revenue","counterparty":"Airlines basket (IndiGo largest)","counterparty_slug":null,"confidence":"high","metric":{"type":"revenue_share","unit":"%","as_of":"2025-12-31","basis":"상용기 매출 526억 / 그룹 매출 733억 유로","value":72,"period":"FY2025","basis_en":"Commercial Aircraft €52.6B of €73.4B group revenue"},"note":"상용기 부문이 FY2025 매출 526억 유로로 그룹 매출의 약 72%를 차지하는 핵심 매출처다. 고객은 전 세계 항공사 바스켓이며, 인도 인디고가 A320계열 1,200대 이상을 주문해 8,754대 백로그의 약 17%를 단독으로 차지하는 최대 고객이다. 2025년에는 인디고가 A350-900 30대를 추가 주문해 총 60대로 늘렸다.","note_en":"Commercial Aircraft is the core revenue source at €52.6B in FY2025, ~72% of group revenue. Customers are a global basket of airlines, with IndiGo of India the single largest, over 1,200 A320-family orders, roughly 17% of the record 8,754-aircraft backlog. In October 2025 IndiGo added 30 A350-900s, taking its A350 commitment to 60.","sources":[{"stance":"confirms","publisher":"Airbus","publisher_en":"Airbus","kind":"ir","lang":"en","published_at":"2026-02-19","url":"https://www.airbus.com/en/newsroom/press-releases/2026-02-airbus-reports-full-year-fy-2025-results","title":"Airbus reports Full-Year (FY) 2025 results","title_en":"Airbus reports Full-Year (FY) 2025 results","excerpt":"Revenues generated by Airbus' commercial aircraft activities increased 4% to € 52.6 billion. ... The order backlog amounted to a year-end record of 8,754 commercial aircraft at the end of 2025.","excerpt_en":"Revenues generated by Airbus' commercial aircraft activities increased 4% to € 52.6 billion. ... The order backlog amounted to a year-end record of 8,754 commercial aircraft at the end of 2025."},{"stance":"mentions","publisher":"Aviation A2Z","publisher_en":"Aviation A2Z","kind":"news","lang":"en","published_at":"2025-06-21","url":"https://aviationa2z.com/index.php/2025/06/21/indigo-airlines-fleet-in-2025/","title":"IndiGo Airlines Fleet in 2025","title_en":"IndiGo Airlines Fleet in 2025","excerpt":"IndiGo has more than 1,200 outstanding orders for A320 family aircraft, about 17% of the total backlog.","excerpt_en":"IndiGo has more than 1,200 outstanding orders for A320 family aircraft, about 17% of the total backlog."}]},{"direction":"investor","counterparty":"Leonardo","counterparty_slug":"leonardo","confidence":"high","metric":{"type":"share","unit":"%","as_of":"2026-07-05","basis":"ATR JV 지분","value":50,"period":"현재","basis_en":"ATR JV stake"},"note":"지역항공기 ATR을 에어버스와 50/50으로 공동 소유하고, 2025년 프로젝트 브로모에서 에어버스·탈레스와 우주 사업을 통합하기로 합의했다(레오나르도 32.5%).","note_en":"Leonardo co-owns the regional-aircraft maker ATR 50/50 with Airbus, and in 2025 agreed to combine space assets with Airbus and Thales under Project Bromo (Leonardo 32.5%).","sources":[{"stance":"confirms","publisher":"에어버스","publisher_en":"Airbus","kind":"ir","lang":"en","published_at":"2025-10-23","url":"https://www.airbus.com/en/newsroom/press-releases/2025-10-airbus-leonardo-and-thales-sign-memorandum-of-understanding-to","title":"에어버스·레오나르도·탈레스, 유럽 우주 선도기업 창설 MOU 서명","title_en":"Airbus, Leonardo and Thales sign MoU to create a leading European player in space","excerpt":"2025년 10월 23일 에어버스·레오나르도·탈레스가 우주 사업 통합 MOU에 서명했다. 지분은 에어버스 35%, 레오나르도 32.5%, 탈레스 32.5%다.","excerpt_en":"On 23 Oct 2025 Airbus, Leonardo and Thales signed an MoU to combine their space businesses, owned 35% Airbus, 32.5% Leonardo and 32.5% Thales."}]},{"direction":"investor","counterparty":"Thales","counterparty_slug":"thales","confidence":"high","metric":{"type":"share","unit":"%","as_of":"2025-10-23","basis":"브로모 합작 예정 지분(탈레스 몫)","value":32.5,"period":"2025-10 MoU","basis_en":"Bromo JV stake (Thales share)"},"note":"프로젝트 브로모: 탈레스는 에어버스·레오나르도와 위성 사업을 합쳐 유럽 우주 대형사를 세우기로 2025년 10월 MoU를 체결. 지분은 에어버스 35%, 탈레스 32.5%, 레오나르도 32.5%로 2027년 출범 목표.","note_en":"Project Bromo: in October 2025 Thales signed an MoU with Airbus and Leonardo to combine space activities into a leading European space player, split Airbus 35%, Thales 32.5%, Leonardo 32.5%, targeting operations in 2027.","sources":[{"stance":"confirms","publisher":"탈레스","publisher_en":"Thales","kind":"filing","lang":"en","published_at":"2026-03-03","url":"https://www.thalesgroup.com/sites/default/files/2026-03/Thales%20_-_FY_2025_-_Slideshow_-%20_03_March_2026_1.pdf","title":"2025 Full-Year results (slideshow)","title_en":"2025 Full-Year results (slideshow)","excerpt":"에어버스·레오나르도와 발사체를 제외한 우주 밸류체인 전반을 아우르는 신설 유럽 우주사 설립 MoU. 매출 €6.5B(2024 프로포마), 2만5000명 이상, 지분 에어버스 35%·탈레스 32.5%·레오나르도 32.5%, 2027년 출범 목표.","excerpt_en":"MoU with Airbus and Leonardo to create a new European space company across the space value chain excluding launchers: €6.5bn revenue (2024 pro-forma), 25k+ employees, Airbus 35%, Thales 32.5%, Leonardo 32.5%, target operational launch 2027."}]},{"direction":"investment","counterparty":"Voyager Technologies","counterparty_slug":"voyager-technologies","confidence":"high","metric":{"type":"ownership_stake","unit":"%","as_of":"2025-03-31","basis":"Starlab JV 지분율","value":30.5,"period":"as of 2025-03-31","basis_en":"ownership interest in Starlab JV"},"note":"에어버스는 스타랩 합작법인(Starlab JV)의 지분 파트너다. 보이저 S-1에 따르면 2025년 3월 31일 기준 보이저가 67.0%, 에어버스가 30.5%를 보유하며 미쓰비시·MDA Space·팔란티어가 각각 1% 미만을 갖는다. 에어버스는 별도로 정거장 현금잔액이 1,000만 달러 미만일 때 최대 1,000만 달러 자금지원 의무도 진다.","note_en":"Airbus is an equity partner in Starlab JV. Per Voyager's S-1, as of March 31, 2025 Voyager held 67.0% and Airbus held 30.5%, with Mitsubishi, MDA Space and Palantir each under 1.0%. Airbus also carries a conditional obligation to fund up to $10.0 million if Starlab JV's cash balance falls below $10.0 million.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회(SEC)","publisher_en":"U.S. Securities and Exchange Commission","kind":"filing","lang":"en","published_at":"2025-06-02","url":"https://www.sec.gov/Archives/edgar/data/1788060/000162828025029524/voyager-sx1a2.htm","title":"Voyager Technologies Form S-1/A","title_en":"Voyager Technologies Form S-1/A","excerpt":"As of March 31, 2025, we had an ownership interest of 67.0% in Starlab JV, Airbus had an ownership interest of 30.5%, and each of Mitsubishi, MDA Space and Palantir had an ownership interest of less than 1.0%.","excerpt_en":"As of March 31, 2025, we had an ownership interest of 67.0% in Starlab JV, Airbus had an ownership interest of 30.5%, and each of Mitsubishi, MDA Space and Palantir had an ownership interest of less than 1.0%."},{"stance":"confirms","publisher":"워싱턴테크놀로지","publisher_en":"Washington Technology","kind":"news","lang":"en","published_at":"2025-05-15","url":"https://www.washingtontechnology.com/companies/2025/05/voyager-further-illuminates-space-strategy-ipo-filing/405426/","title":"Voyager further illuminates space strategy in IPO filing","title_en":"Voyager further illuminates space strategy in IPO filing","excerpt":"보이저 테크놀로지스의 IPO 서류에 따르면 에어버스는 스타랩 우주정거장 JV 지분 30.5%를 보유한다(보이저 67% 최대주주). 에어버스가 전략적 파트너로 출자한 지분 투자 관계다.","excerpt_en":"Per Voyager Technologies' IPO filing, Airbus holds a 30.5% stake in the Starlab space-station JV (Voyager the 67% majority owner), an equity investment as a strategic partner."}]},{"direction":"revenue","counterparty":"European governments (Defence and Space)","counterparty_slug":null,"confidence":"high","metric":{"type":"revenue_share","unit":"%","as_of":"2025-12-31","basis":"방산·우주 매출 134억 / 그룹 733억 유로","value":18,"period":"FY2025","basis_en":"Defence and Space €13.4B of €73.4B group revenue"},"note":"방산·우주 부문은 FY2025 매출 134억 유로(+11%)로 그룹의 약 18%를 차지하며, 고객은 주로 유럽 정부·NATO다(전투기 유로파이터, 군용수송기 A400M, 공중급유기 A330 MRTT, 군용위성·헬기). 미 국방부(DoD)에 대한 직접 매출 비중은 미미하다. 부문 EBIT는 전환계획 성과로 -5.66억 유로(2024)에서 +7.98억 유로로 흑자 전환했다.","note_en":"Defence and Space posted FY2025 revenue of €13.4B (+11%), ~18% of the group, serving mainly European governments and NATO (Eurofighter, A400M airlifter, A330 MRTT tanker, military satellites and helicopters). Direct U.S. DoD revenue is minimal. Division EBIT swung to +€798M from -€566M in 2024 as its transformation plan took hold.","sources":[{"stance":"confirms","publisher":"Airbus","publisher_en":"Airbus","kind":"ir","lang":"en","published_at":"2026-02-19","url":"https://www.airbus.com/en/newsroom/press-releases/2026-02-airbus-reports-full-year-fy-2025-results","title":"Airbus reports Full-Year (FY) 2025 results","title_en":"Airbus reports Full-Year (FY) 2025 results","excerpt":"Revenues at Airbus Defence and Space increased 11% year-on-year to € 13.4 billion, driven by higher volumes across all business units. EBIT Adjusted at Airbus Defence and Space increased to € 798 million (2024: € -566 million).","excerpt_en":"Revenues at Airbus Defence and Space increased 11% year-on-year to € 13.4 billion, driven by higher volumes across all business units. EBIT Adjusted at Airbus Defence and Space increased to € 798 million (2024: € -566 million)."}]},{"direction":"cost","counterparty":"Rolls-Royce","counterparty_slug":null,"confidence":"high","metric":{"type":"supplier_relationship","as_of":"2025-04-13","basis":"A350 단독 엔진 공급(Trent XWB), 조달금액 비공개","period":"FY2025","basis_en":"sole A350 engine supply (Trent XWB), procurement value not disclosed","qualifier":"confirmed_no_disclosed_value"},"note":"와이드바디 A350은 롤스로이스 트렌트 XWB 엔진을 단독 장착한다(-900은 XWB-84, -1000·A350F는 XWB-97). 2025년 EASA는 개선형 트렌트 XWB-84 EP를 인증했다. 롤스로이스는 A350 프로그램의 유일 엔진 공급사이자 핵심 비용처다.","note_en":"The wide-body A350 is powered exclusively by the Rolls-Royce Trent XWB (XWB-84 on the -900; XWB-97 on the -1000 and A350F). In 2025 EASA certified the enhanced Trent XWB-84 EP. Rolls-Royce is the sole engine supplier for the A350 programme and a key cost source.","sources":[{"stance":"confirms","publisher":"Aviation A2Z","publisher_en":"Aviation A2Z","kind":"news","lang":"en","published_at":"2025-04-13","url":"https://aviationa2z.com/index.php/2025/04/13/easa-certifies-a350-trent-xwb-84-engine/","title":"EASA Certifies Airbus A350-900 RR Trent XWB-84 EP Engine","title_en":"EASA Certifies Airbus A350-900 RR Trent XWB-84 EP Engine","excerpt":"A350-900 with Trent XWB-84 Enhanced Performance engine receives EASA certification","excerpt_en":"A350-900 with Trent XWB-84 Enhanced Performance engine receives EASA certification"}]},{"direction":"cost","counterparty":"Spirit AeroSystems","counterparty_slug":null,"confidence":"high","metric":{"type":"acquisition","as_of":"2025-12-08","basis":"A350·A220 관련 스피릿 공장 자산 인수(내재화)","period":"closed 2025-12-08","basis_en":"in-sourcing of Spirit plants tied to A350/A220","qualifier":"confirmed_no_disclosed_value"},"note":"에어버스는 A350·A220 산업조직을 안정화하기 위해 스피릿 에어로시스템스의 관련 공장 자산을 인수(내재화)했다. 보잉·에어버스로의 스피릿 분할은 2025년 12월 8일 발효됐으며, 킨스턴(A350 동체), 벨파스트(A220 날개·중앙동체), 프레스트윅, 카사블랑카, 생나제르 등이 에어버스로 이관됐다. 스피릿 공급 문제는 2025년 A350 인도에 영향을 줬다.","note_en":"Airbus acquired (in-sourced) Spirit AeroSystems plants tied to the A350 and A220 to secure those programmes' industrial ramp-up. The Boeing/Airbus split of Spirit became effective December 8, 2025, transferring Kinston (A350 fuselage), Belfast (A220 wings/mid-fuselage), Prestwick, Casablanca and Saint-Nazaire to Airbus. Spirit supply problems had weighed on 2025 A350 deliveries.","sources":[{"stance":"mentions","publisher":"Leeham News","publisher_en":"Leeham News","kind":"news","lang":"en","published_at":"2026-01-13","url":"https://leehamnews.com/2026/01/13/spirit-aero-problems-affected-a350-deliveries/","title":"Spirit Aero problems affected A350 deliveries","title_en":"Spirit Aero problems affected A350 deliveries","excerpt":"Spirit Aero problems affected A350 deliveries","excerpt_en":"Spirit Aero problems affected A350 deliveries"},{"stance":"confirms","publisher":"Aerospace Manufacturing and Design","publisher_en":"Aerospace Manufacturing and Design","kind":"news","lang":"en","published_at":"2025-12-09","url":"https://www.aerospacemanufacturinganddesign.com/news/spirit-aerosystems-completes-split-between-boeing-airbus/","title":"Spirit AeroSystems completes split between Boeing, Airbus","title_en":"Spirit AeroSystems completes split between Boeing, Airbus","excerpt":"Boeing and Airbus each completed acquisition of portions of Spirit AeroSystems relevant to each company's aircraft production effective Dec. 8, 2025.","excerpt_en":"Boeing and Airbus each completed acquisition of portions of Spirit AeroSystems relevant to each company's aircraft production effective Dec. 8, 2025."}]},{"direction":"cost","counterparty":"RTX","counterparty_slug":"rtx","confidence":"high","metric":{"type":"supplier_relationship","as_of":"2025-11-20","basis":"A320neo 엔진 공급(P&W GTF), 조달금액 비공개","period":"FY2025","basis_en":"A320neo engine supply (P&W GTF), procurement value not disclosed","qualifier":"confirmed_no_disclosed_value"},"note":"A320neo 계열의 두 엔진 선택지 중 하나는 RTX 산하 프랫앤휘트니의 기어드 터보팬(GTF, PW1100G)이다. RTX는 주요 엔진 공급사이자 비용처다. 다만 2023년 공개된 파우더메탈 결함으로 2026년까지 대규모 검사가 진행되며 CFM LEAP 대비 점유율이 밀린 상태다.","note_en":"One of the two engine options on the A320neo family is Pratt & Whitney's geared turbofan (GTF, PW1100G) from RTX, a key engine supplier and cost source. However, a powder-metal defect disclosed in 2023 triggered large-scale inspections running through 2026 and left GTF trailing the CFM LEAP in share.","sources":[{"stance":"confirms","publisher":"AirInsight","publisher_en":"AirInsight","kind":"analysis","lang":"en","published_at":"2024-06-01","url":"https://airinsight.com/cfm-leap-vs-pw-gtf/","title":"A320neo 엔진 옵션: CFM LEAP-1A(GE·사프란) vs P&W GTF(RTX)","title_en":"A320neo engine options: CFM LEAP-1A (GE/Safran) vs P&W GTF (RTX)","excerpt":"A320neo의 다른 엔진 옵션은 RTX(프랫&휘트니)의 기어드 터보팬 GTF(PW1100G) — LEAP과 함께 2대 엔진 선택지(롤스로이스는 철수).","excerpt_en":"The other A320neo engine option is RTX's (Pratt & Whitney) geared turbofan GTF (PW1100G) — one of the two choices alongside LEAP (Rolls-Royce withdrew)."}]},{"direction":"investment","counterparty":"아리안그룹","counterparty_slug":"arianegroup","confidence":"high","metric":null,"note":"2016년 완성된 50:50 합작(2017년 아리안그룹 개명)의 절반을 보유. 지분 외 공급 관계도 있어 스페인 헤타페 공장에서 아리안 6용 대형 탄소섬유 구조물(발사체당 최대 4개)을 납품한다.","note_en":"Airbus holds half of the 50:50 JV finalised in 2016 (renamed ArianeGroup in 2017), and is also a supplier: its Getafe plant delivers large carbon-fibre structures for Ariane 6 (up to four per launcher).","sources":[{"stance":"confirms","publisher":"에어버스","publisher_en":"Airbus","kind":"ir","lang":"en","published_at":"2022-11-21","url":"https://www.airbus.com/en/newsroom/press-releases/2022-11-airbus-and-arianegroup-sign-ariane-6-transition-batch-contract-in","title":"에어버스·아리안그룹, 아리안 6 구조물 계약","title_en":"Airbus and ArianeGroup sign Ariane 6 transition batch contract in Spain","excerpt":"에어버스가 향후 14기 아리안 6용 대형 경량 탄소섬유 구조물을 헤타페에서 제작·공급한다.","excerpt_en":"Airbus will supply large carbon-fibre structures for the next fourteen Ariane 6 launchers from Getafe."},{"stance":"confirms","publisher":"아리안그룹","publisher_en":"ArianeGroup","kind":"ir","lang":"en","published_at":"2016-06-30","url":"https://www.ariane.group/en/news/airbus-safran-launchers-jv-finalised-europes-new-space-industry-champion-fully-operational/","title":"에어버스 사프란 론처스 JV 완성","title_en":"Airbus Safran Launchers JV finalised","excerpt":"에어버스그룹과 사프란이 각각 50%를 보유하는 합작으로 양사 발사체 사업과 자회사 11개(아리안스페이스 포함)를 통합.","excerpt_en":"Airbus Group and Safran each own 50%, combining both companies' launcher activities and 11 subsidiaries including Arianespace."}]},{"direction":"cost","counterparty":"도레이 (탄소섬유)","counterparty_slug":"toray-industries","confidence":"high","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"CFRP 복합재 15년 파트너십 조달처.","note_en":"CFRP composites under a 15-year partnership.","sources":[{"stance":"confirms","publisher":"디자인뉴스","publisher_en":"Design News","kind":"news","lang":"en","published_at":"2024-06-01","url":"https://www.designnews.com/assembly/toray-airbus-ink-15-year-cfrp-partnership","title":"도레이·에어버스, 15년 CFRP 파트너십 체결","title_en":"Toray, Airbus Ink 15-Year CFRP Partnership","excerpt":"15-year CFRP partnership.","excerpt_en":"15-year CFRP partnership."}]},{"direction":"cost","counterparty":"한국항공우주산업 (KAI)","counterparty_slug":"kai","confidence":"mid","metric":{"type":"amount","unit":"USD","as_of":"2012-03-21","basis":"A320 날개 하부 패널 공급","value":1200000000,"period":"2014-2025","basis_en":"A320 wing bottom panel supply"},"note":"KAI는 에어버스 A320 날개 하부 패널 공급사로 에어버스 공급망의 비용 노드다.","note_en":"KAI supplies A320 wing bottom panels, a cost node in Airbus's supply chain.","sources":[{"stance":"confirms","publisher":"에어포트테크놀로지","publisher_en":"Airport Technology","kind":"news","lang":"en","published_at":"2012-03-21","url":"https://www.airport-technology.com/uncategorized/newskai-wins-12bn-wing-parts-production-order-from-airbus/","title":"KAI wins $1.2bn wing parts production order from Airbus","title_en":"KAI wins $1.2bn wing parts production order from Airbus","excerpt":"KAI가 2014~2025년 생산되는 에어버스 A320용 날개 하부 패널을 공급하는 $1.2B 계약을 확보했다.","excerpt_en":"KAI won a $1.2bn contract to supply wing bottom panels for Airbus A320 jets built from 2014 to 2025."}]},{"direction":"investment","counterparty":"Leonardo","counterparty_slug":"leonardo","confidence":"mid","metric":{"type":"share","unit":"%","as_of":"2026-07-05","basis":"ATR JV 지분","value":50,"period":"현재","basis_en":"ATR JV stake"},"note":"에어버스는 지역항공기 ATR을 레오나르도와 50/50으로 공동 소유하고, 2025년 프로젝트 브로모에서 레오나르도·탈레스와 우주 사업을 통합하기로 합의했다(에어버스 35%).","note_en":"Airbus co-owns the regional-aircraft maker ATR 50/50 with Leonardo, and in 2025 agreed to combine space assets with Leonardo and Thales under Project Bromo (Airbus 35%).","sources":[{"stance":"confirms","publisher":"에어버스","publisher_en":"Airbus","kind":"ir","lang":"en","published_at":"2025-10-23","url":"https://www.airbus.com/en/newsroom/press-releases/2025-10-airbus-leonardo-and-thales-sign-memorandum-of-understanding-to","title":"에어버스·레오나르도·탈레스, 유럽 우주 선도기업 창설 MOU 서명","title_en":"Airbus, Leonardo and Thales sign MoU to create a leading European player in space","excerpt":"에어버스·레오나르도·탈레스가 우주 사업 통합 MOU에 서명했고, 신설법인 지분은 에어버스 35%, 레오나르도 32.5%, 탈레스 32.5%다. 에어버스와 레오나르도는 ATR도 50/50으로 공동 소유한다.","excerpt_en":"Airbus, Leonardo and Thales signed an MoU to combine space businesses, with the new entity owned 35% Airbus, 32.5% Leonardo and 32.5% Thales; Airbus and Leonardo also co-own ATR 50/50."}]},{"direction":"investment","counterparty":"Thales","counterparty_slug":"thales","confidence":"mid","metric":{"type":"ownership_stake","unit":"%","as_of":"2026-06-24","basis":"합병 신설 위성 JV에서 에어버스 예정 지분(미완결)","value":35,"period":"MOU 2025-10-23","basis_en":"Airbus's intended stake in the merged satellite JV (not yet closed)"},"note":"에어버스는 2025년 10월 23일 탈레스·레오나르도와 위성사업을 합병하는 MOU(코드명 Project Bromo)에 서명했다. MBDA 모델을 본떠 툴루즈 본사, 인력 약 2.5만명·연매출 약 65억 유로 규모이며 지분은 에어버스 35%·레오나르도 32.5%·탈레스 32.5%다. 2026년 6월 24일 두 CEO가 EU 집행위 승인을 촉구했으나 아직 정식 신고 전이며 결정은 2027년 하반기 이후로 예상된다(현재성: 미완결).","note_en":"On October 23, 2025 Airbus signed an MOU (code-named Project Bromo) to merge its satellite business with Thales and Leonardo. Modelled on MBDA and headquartered in Toulouse, the combined group would hold ~25,000 staff and ~€6.5B annual revenue, owned 35% Airbus / 32.5% Leonardo / 32.5% Thales. On June 24, 2026 the CEOs pressed the European Commission to approve it, but the parties have not yet formally filed and a decision is not expected before H2 2027 (status: not yet closed).","sources":[{"stance":"mentions","publisher":"Grosswald","publisher_en":"Grosswald","kind":"news","lang":"en","published_at":"2026-06-24","url":"https://www.grosswald.org/europe-space-merger-project-bromo-airbus-leonardo-thales-ohb-opposition/","title":"Airbus, Leonardo and Thales Press Brussels to Clear 'Project Bromo'","title_en":"Airbus, Leonardo and Thales Press Brussels to Clear 'Project Bromo'","excerpt":"The chief executives of Airbus and Leonardo pressed the European Commission on 24 June 2026 to approve 'Project Bromo,' their planned three-way space merger with Thales.","excerpt_en":"The chief executives of Airbus and Leonardo pressed the European Commission on 24 June 2026 to approve 'Project Bromo,' their planned three-way space merger with Thales."},{"stance":"confirms","publisher":"포캐스트 인터내셔널","publisher_en":"Forecast International (Flight Plan)","kind":"news","lang":"en","published_at":"2025-10-24","url":"https://flightplan.forecastinternational.com/2025/10/24/airbus-leonardo-thales-join-forces-to-reshape-european-space-landscape/","title":"Airbus, Leonardo, Thales Join Forces to Reshape European Space Landscape","title_en":"Airbus, Leonardo, Thales Join Forces to Reshape European Space Landscape","excerpt":"에어버스·탈레스·레오나르도가 우주 사업을 합쳐 매출 €6.5B·2만5000명 규모의 신설사를 세운다. 지분은 에어버스 35%, 탈레스 32.5%, 레오나르도 32.5%, 2027년 목표.","excerpt_en":"Airbus, Thales and Leonardo combine space businesses into a new company with €6.5bn revenue and 25,000 staff, split Airbus 35%, Thales 32.5%, Leonardo 32.5%, targeting 2027."},{"stance":"confirms","publisher":"SpaceNews","publisher_en":"SpaceNews","kind":"news","lang":"en","published_at":"2025-10-23","url":"https://spacenews.com/airbus-leonardo-and-thales-agree-to-combine-space-businesses/","title":"Airbus, Leonardo and Thales agree to combine space businesses","title_en":"Airbus, Leonardo and Thales agree to combine space businesses","excerpt":"Airbus, Leonardo and Thales jointly announced October 23 that they had signed a memorandum of understanding (MOU) to create a joint venture that will merge many of their space activities into a single company.","excerpt_en":"Airbus, Leonardo and Thales jointly announced October 23 that they had signed a memorandum of understanding (MOU) to create a joint venture that will merge many of their space activities into a single company."},{"stance":"confirms","publisher":"유로뉴스","publisher_en":"Euronews","kind":"news","lang":"en","published_at":"2025-10-21","url":"https://www.euronews.com/next/2025/10/21/europes-answer-to-starlink-airbus-thales-and-leonardo-reportedly-agree-to-satellite-merger","title":"Europe's answer to Starlink? Airbus, Thales and Leonardo agree to satellite merger","title_en":"Europe's answer to Starlink? Airbus, Thales and Leonardo agree to satellite merger","excerpt":"에어버스·탈레스·레오나르도가 2025년 10월 21일 위성 사업을 하나의 신설 법인(약 2.5만명, 프로젝트 브로모)으로 통합하는 MOU에 서명했다. 3사가 자산을 출자해 공동 소유하는 구조로, 에어버스와 탈레스가 같은 회사에 우주 자산을 합치는 관계다.","excerpt_en":"On 21 Oct 2025 Airbus, Thales and Leonardo signed an MOU to pool their satellite businesses into one new company (about 25,000 staff, Project Bromo), a jointly owned structure in which Airbus and Thales contribute space assets into the same entity."}]},{"direction":"cost","counterparty":"Supplier basket (비공개)","counterparty_slug":null,"confidence":"mid","metric":{"type":"supplier_relationship","as_of":"2025-12-31","basis":"다수 공급사 바스켓, 개별 금액 비공개","period":"FY2025","basis_en":"multi-supplier basket, individual values not disclosed","qualifier":"confirmed_no_disclosed_value"},"note":"엔진 외에 기체구조·항전·시스템·소재를 공급하는 광범위한 글로벌 공급망 바스켓이 존재한다(개별 조달금액 비공개). A320계열 월산 목표 상향과 A350 램프업이 공급망 부담의 핵심이다.","note_en":"Beyond engines, Airbus relies on a broad global supply-chain basket of airframe structures, avionics, systems and materials (individual procurement values not disclosed). Raising A320-family monthly rates and the A350 ramp-up are the central supply-chain pressures.","sources":[{"stance":"mentions","publisher":"Airbus","publisher_en":"Airbus","kind":"ir","lang":"en","published_at":"2026-02-19","url":"https://www.airbus.com/en/newsroom/press-releases/2026-02-airbus-reports-full-year-fy-2025-results","title":"Airbus reports Full-Year (FY) 2025 results","title_en":"Airbus reports Full-Year (FY) 2025 results","excerpt":"A total of 793 commercial aircraft were delivered (2024: 766 aircraft), comprising 93 A220s, 607 A320 Family, 36 A330s and 57 A350s.","excerpt_en":"A total of 793 commercial aircraft were delivered (2024: 766 aircraft), comprising 93 A220s, 607 A320 Family, 36 A330s and 57 A350s."}]},{"direction":"revenue","counterparty":"Korean Air","counterparty_slug":null,"confidence":"mid","metric":{"type":"relationship","as_of":"2025-10-19","basis":"부품 공급·정비 협력, 공개 금액 없음","period":"2025","basis_en":"component supply and MRO cooperation, no disclosed value","qualifier":"confirmed_no_disclosed_value"},"note":"한국은 에어버스의 전략 시장이자 공급·고객 접점이다. 대한항공 항공우주사업본부는 A330neo용 샤크렛(윙팁)과 A330 동체 스킨패널·바닥 어셈블리를 생산하고, 2025년 10월 에어버스와 예지정비(predictive maintenance) 협력을 강화했다. 한국항공우주산업(KAI)은 사천에서 1989년부터 A330·A350 날개 부품을 공급한다.","note_en":"Korea is a strategic market and both supplier and customer touchpoint for Airbus. Korean Air's aerospace division makes A330neo Sharklets (wingtips) and A330 fuselage skin panels and floor assemblies, and in October 2025 deepened predictive-maintenance cooperation with Airbus. Korea Aerospace Industries (KAI) has supplied A330/A350 wing components from Sacheon since 1989.","sources":[{"stance":"mentions","publisher":"국제신문","publisher_en":"Kookje Shinmun","kind":"news","lang":"ko","published_at":"2025-10-19","url":"https://www.kookje.co.kr/news2011/asp/newsbody.asp?code=0200&key=20251019.99099004005","title":"대한항공, 에어버스와 손잡고 예지정비 협력 강화 맞손","title_en":"Korean Air deepens predictive-maintenance cooperation with Airbus","excerpt":"대한항공이 에어버스와 손잡고 예지정비 협력을 강화한다.","excerpt_en":"Korean Air is strengthening predictive-maintenance cooperation with Airbus."},{"stance":"mentions","publisher":"인천투데이","publisher_en":"Incheon Today","kind":"news","lang":"ko","published_at":"2025-10-16","url":"https://www.incheontoday.com/news/articleView.html?idxno=309839","title":"에어버스-한국, 위성통신·헬기·공중급유기 협력 '전략적 파트너' 부각","title_en":"Airbus-Korea: strategic partner in satcom, helicopters and aerial refuelling","excerpt":"에어버스는 한국 공군의 작전 요구에 부합하는 차세대 진화형 모델 A330 MRTT+를 제안할 준비가 돼 있다.","excerpt_en":"Airbus is ready to offer the next-generation A330 MRTT+ that meets the operational needs of the Republic of Korea Air Force."}]},{"direction":"cost","counterparty":"Thales","counterparty_slug":"thales","confidence":"mid","metric":null,"note":"탈레스는 에어버스 민항기·군용기에 항공전자(아비오닉스)를 공급한다.","note_en":"Thales supplies avionics to Airbus commercial and military aircraft.","sources":[{"stance":"mentions","publisher":"에어로타임","publisher_en":"AeroTime","kind":"news","lang":"en","published_at":"2026-03-03","url":"https://www.aerotime.aero/articles/thales-2025-results-defense-avionics-sales-22b","title":"Thales 2025 results: defense and avionics lift sales to €22.1B","title_en":"Thales 2025 results: defense and avionics lift sales to €22.1B","excerpt":"2025년 항공우주 매출 €5,910M로 아비오닉스가 두 자릿수 성장. 아비오닉스는 에어버스 등 기체 제조사에 공급된다.","excerpt_en":"2025 Aerospace sales of €5,910M with double-digit avionics growth; avionics is supplied to airframers including Airbus."}]}]}