European agency to boost payment terms for struggling space sector-March 2024-www.financetom.com

European agency to boost payment terms for struggling space sector

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European agency to boost payment terms for struggling space sector

Oct 25, 2024 6:58 PM

PARIS, Oct 24 (Reuters) - The European Space Agency said

on Thursday it would introduce more flexible contract terms

including increased downpayments to help improve cashflow in the

European space industry.

Director General Josef Aschbacher announced the move after

an ESA council meeting, following a series of restructuring

measures and losses among industrial suppliers.

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