Europe is feeling the heat from SpaceX’s rocket-powered rise, and it’s not hard to see why. Last year, Elon Musk’s company blasted off 134 missions into orbit. Meanwhile, Europe managed just three. SpaceX also operates a massive satellite network with over 7,000 units, delivering internet globally. Europe’s own project? It hopes to have a smaller version up and running by 2030, costing a whopping $11 billion.

The continent has good reasons to push back. For starters, Europe wants to maintain its independence in space access and communications. Relying on SpaceX could weaken its own aerospace companies. And let’s not forget Musk’s recent political digs at European governments, using slogans like “Make Europe Great Again” to critique current leadership. It’s no wonder Europe is itching to find its own solution.

Enter Airbus, Europe’s answer to Boeing. Their grand plan? Team up with banking heavyweights like Goldman Sachs and Bank of America to create a new space venture. The goal is to better compete with SpaceX, with potential partners including France’s Thales and Italy’s Leonardo. The project, dubbed “Bromo,” might sound bold, but critics are already calling it a bad move. (“Bromo,” by the way, comes from a Greek word meaning “bad smell”—an unfortunate coincidence.)

While the details are still being worked out, the idea of relying on bankers to tackle SpaceX’s dominance has raised eyebrows. Will this plan soar or crash and burn? Only time will tell, but for now, it seems Europe has a long way to go before it can truly challenge SpaceX’s grip on the skies.