Shareholders Agree to $110 Million Bailout of Arianespace

Ariane 5 ECA for flight V184 climb away from the Guiana Space Centre on the evening of 7 July 2008.

Arianespace Shareholders Agree To Offset Consortium’s Losses
Space News

The Arianespace commercial launch consortium has won approval of its shareholders to recapitalize the company to compensate for two years of losses totaling 135 million euros ($184 million), European government and industry officials said Jan. 26.

The shareholders, led by the French space agency CNES and Ariane 5 prime contractor Astrium Space Transportation, will not be paying that amount in cash, however.

Taking account of an apparently exceptional cash reserve of 55 million euros at Evry, France-based Arianespace, the company’s shareholders ordered that these funds be used to offset the amount of cash the company was soliciting.

As a result, the shareholders were obliged to write checks for a total of 80 million euros.

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