Hughes Network Systems, an original OneWeb investor, said July 27 it would put $50 million into the consortium that is purchasing OneWeb out of bankruptcy protection.
“This whole decision making process seems unusual and doesn’t have the transparency that it requires,” Jones said in a video posted to Twitter. “Therefore, my committee will be holding an inquiry to understand the decision making behind this purchase.”
Britain’s military on July 19 agreed to fully fund a gap-filler Skynet satellite it sole-sourced from Airbus Defence and Space three years ago, signing a 500-million-pound ($628.5 million) contract that covers the satellite’s manufacture and launch, as well as ground segment upgrades.
OneWeb received permission from a U.S. bankruptcy court Friday to pay its satellite vendor to resume building spacecraft for the company’s broadband megaconstellation.
The British government and Indian mobile network operator Bharti Global placed a winning bid to acquire OneWeb, a broadband megaconstellation startup that filed for Chapter 11 bankruptcy protection in March after running out of funding, OneWeb said July 3.
Astronomers who have spent the last year worried about the effect that SpaceX’s Starlink satellites will have on their observations say they are increasingly concerned about the impact from other proposed megaconstellations.
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.
OneWeb is asking its bankruptcy court for permission to issue up to $8.8 million in worker retention and incentive payments to discourage its remaining employees from quitting before the company can sell its spectrum.
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.
Lt. Gen. Thompson: DoD plans to work with Congress to help space companies that face bankruptcy.
The coronavirus pandemic and the transition launch providers are making to new rockets is complicating EchoStar’s reservation of a launch slot for its Jupiter-3 broadband satellite, according to company executives.
The coronavirus pandemic is making it harder for Iridium to line up customers for its recently upgraded satellite constellation, but isn’t expected to reverse the company’s six-year annual growth streak, according to CEO Matt Desch.
Japanese satellite operator Sky Perfect JSAT is delaying its annual financial report by seven weeks, citing the coronavirus.