Airbus SE has hired Goldman Sachs Group Inc. for advice on an effort to forge a new European space and satellite company that can better compete with Elon Musk’s dominant SpaceX, according to people familiar with the matter.

Airbus SE (OTC:EADSY), the European multinational aerospace corporation, has engaged Goldman Sachs Group Inc (NYSE:GS). for guidance on creating a new European space and satellite company. The goal is to become a more formidable competitor to Elon Musk's SpaceX,