Eurely, the consortium formed by Alcatel, Finmeccanica, AENA and Hispasat, said it handed out its final proposal Jan. 25 to the European Commission, providing further details and binding commitments to manage the services of the planned Galileo satellite navigation system. The consortium did not provide financial details of the bid, but said its proposal exceeds commission and European Space Agency requirements for the system. It said its business plan is already fully funded, as equity and other financing, on a non-recourse basis, are over-subscribed.

On a related statement, Reuters reported Jan. 25 that the other consortium, iNavSat, also submitted its bid Jan. 25. EADS, Thales and Inmarsat lead that consortium.