Now that its first batch of next generation satellites is in orbit and operational, mobile satellite services provider Iridium is preparing deorbit procedures for its legacy fleet of low-Earth orbit satellites that launched in the late 1990s.
The French export-credit agency, Coface, on Sept. 13 said it was examining the OneWeb global internet-delivery constellation with an open mind but that it remains unclear whether the agency could guarantee a large portion of OneWeb’s debt.
Satellite operators are expressing concern that the U.S. Export-Import Bank and France’s Coface might reduce their support for the satellite industry in light of the failure of start-up satellite operator NewSat of Australia.
A U.S. bankruptcy court’s May 22 decision to allow Lockheed Martin to cancel a satellite construction contract with a near-penniless customer — startup satellite operator NewSat of Australia — has handed the U.S. and French export-credit agencies their first satellite industry failure.
Startup satellite operator NewSat Ltd. of Australia on April 16 filed for bankruptcy protection from creditors, with its executive team stripped of control and bankruptcy managers immediately asking for a restraining order against NewSat’s creditors.