Intelsat is asking its bankruptcy court for authorization to modify a $50 million loan to Spaceflight Industries’ Earth-observation business BlackSky that could become a snag in Spaceflight’s sale of its launch rideshare business.
OneWeb told the FCC May 26 that it wants to increase its constellation size to 48,000 satellites despite having filed for bankruptcy over an inability to fund a smaller broadband megaconstellation.
Rationalization of the startup landscape and the right sizing of company balance sheets is inevitable, paving the way for “Space 3.0,” which will see the profitable and sustainable exploitation of entirely new market opportunities, backed by a growing base of enlightened stakeholders.
Intelsat hopes it can eliminate around half of its $15 billion debt load through bankruptcy, a move that would free the company to invest in next generation satellite technologies, according to a company executive.
Intelsat filed for Chapter 11 bankruptcy May 13. Join SpaceNews Editor-in-Chief Brian Berger and Staff Writer Caleb Henry for a live discussion with a panel of veteran analysts.
Intelsat, the world’s second largest satellite operator by revenue, filed for Chapter 11 bankruptcy protection late May 13 as a means to ease its nearly $15 billion debt load and participate in an FCC spectrum auction.
Maxar said the satellite order, which industry analysts say is likely driven by a U.S. effort to clear satellite C-band spectrum to make way for 5G wireless networks, is a “multi-hundred million dollar contract.”
Cyrus Capital Partners, a $4 billion investment advisory firm with offices in New York and London, said Intelsat appears to be headed for a Chapter 11 bankruptcy filing after it skipped a $125 million interest payment due April 15.
A 19-year-old Intelsat satellite resumed service April 2 after getting a new lease on life through Northrop Grumman’s MEV-1 satellite servicer, the companies announced Friday.
Omnispace, a company planning a satellite constellation to keep mobile asset trackers, sensors and other smart devices constantly connected using common cellular standards, ordered two prototype spacecraft from Thales Alenia Space, the companies announced April 9.
Gogo CEO Oakleigh Thorne said the coronavirus pandemic is partly behind the company’s cost-saving efforts, since decreased airline traffic has had a knock-on effect on demand for passenger Wi-Fi.
Airbus Defence and Space wanted to launch a satellite servicer shortly after Northrop Grumman launched MEV-1, but backed away from those plans two years ago because of uncertainty about the commercial market.
WASHINGTON — The FCC says it will scrap a $9.7 billion spectrum clearing incentive package approved last week if Intelsat and SES don’t both agree to the terms.
Telesat and SES are urging the U.S. Federal Communications Commission to reject Intelsat’s request for a larger share of the $9.7 billion in incentive payments the FCC plans to offer satellite operators to hasten the clearing of C-band spectrum the United States wants to repurpose for 5G cellular networks.
SES has started its own campaign for more money, arguing that “undisputed facts conclusively show that Intelsat and SES deserve equal shares of any accelerated relocation payments.”