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Shares of Avio, trading on the Borsa Italiana exchange, fell 9.5% on 2022-12-21.
ArianeGroup has signed exploitation contracts with Sabca, Airbus Spain, Europropulsion, Avio, and MTAerospace.
ArianeGroup signed exploitation contracts with Sabca, Europropulsion, Avio, and MTAerospace for elements of the Ariane 6 program.
Vega C is designed and manufactured by Avio SpA in Colleferro, Italy.
Avio secured 340,000,000 EUR in government funding on 2022-06-29 to develop launch vehicles for the next decade.
Avio is using the remaining 120,000,000 EUR of the funding to develop another liquid oxygen and methane engine intended to be six times more powerful.
About two-thirds of the Italian pandemic recovery stimulus funds awarded to Avio will support a small two-stage demonstration rocket slated to fly by 2026 with a new liquid oxygen and methane engine.
Avio expects a prime contractor to be selected soon to build around 34 satellites for the Earth-observation network to meet an objective to get them in orbit by 2026.
Avio aims to qualify the more powerful liquid oxygen and methane engine via ground tests by 2026.
Avio performed the first ground test of its M10 liquid oxygen and methane engine in May 2022.
Avio is seeking to hire 200 engineers to expand its workforce and production capacity.
Avio expects to manufacture the equivalent of about 16 P120 boosters in 2022 and to reach 35 boosters per year by 2025.
Avio has contracts planning for a total of three Vega C launches by the end of the year, with a second launch in the fall and a third in the winter.
Avio’s adjusted EBITDA fell 73% to 1,200,000 EUR for the first three months of 2022.
Avio reported a 25% jump in revenue for the first three months of 2022 to 66,000,000 EUR.
Avio plans to manufacture 35 or more P120s annually by 2026 to make the first stage significantly cheaper.
Europropulsion developed the P120C motor and Europropulsion is jointly owned by Avio and ArianeGroup.
The full list of New Symphonie collaborators includes AEROSPACELAB, ANYWAVES, AVIO, CAILABS, DE-CIX, EXOLAUNCH, EXOTRAIL, FRESNEL ALLIANCE, GOMSPACE, GREENERWAVE, INTEGRASYS, KSAT, LOFT ORBITAL, QEST ANTENNA TECHNOLOGY, SATCONSULT, SECURE-IC, SENER, SITAEL, TESAT, and TRANSATEL.
An independent investigation determined the 2020-11-16 Vega failure was caused by improperly connected cables in the rocket’s upper stage built by Avio.
Bravo was launched into low Earth orbit on 2021-04-28 aboard an Arianespace Vega rocket built by Italian rocket maker Avio.