The move comes a year after Piaggio had outlined a five-year turnaround plan that had included a £255 million ($342 million) cash injection from Mubadala.
The Iris program is a partnership with the European Space Agency (ESA), led by Inmarsat, to establish secure, high-bandwidth communications over Europe.
The RAF is regaining a maritime patrol capability through the acquisition of P-8s, but senior officers are concerned that there are not enough for the task