12:24 PM EST, 11/09/2026 (MT Newswires) -- Airbus (AIR.PA, AIR.F, AIR.MC) unit Airbus Defence and Space and Thales Alenia Space, or TAS, secured a 1.5 billion-euro contract to deliver Earth observation satellites for the French Armed Forces under the IRIS program. The contract from the French Defence Procurement Agency, running until the end of the 2030s, covers the detailed conception, manufacture and testing of two satellites, along with control and user ground segments, and in-orbit operations and maintenance, according to a Monday release. Airbus Defence and Space, as the lead contractor, will provide both satellite platforms. Meanwhile, TAS, a joint venture between Thales (HO.PA) and Leonardo SpA (LDO.MI), will develop a new payload for the second satellite, supply critical elements for the first payload, as well as contribute to the ground segment.

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