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.
With OneWeb’s drive to cover the globe with hundreds of mass-produced satellites halted by last month’s Chapter 11 filing, some of the bankrupt megaconstellation’s component suppliers are looking to repurpose the investments they made in expanded manufacturing capabilities.
OneWeb is asking a bankruptcy court for permission to borrow between $75 million and $300 million the company says it needs to stay afloat while it attempts to sell its spectrum assets.
Teledyne, one of the first component suppliers to announce an agreement with OneWeb, is considering a $40 million pre-tax charge to its financial performance
SpaceNews Editor-in-Chief Brian Berger and SpaceNews Staff Writer Caleb Henry were joined by a panel of space industry analysts to explore these questions and more during a live webinar recorded April 7.
“While by no means immune from the broader economic downdraft, we nonetheless expect the Satellite & Space industry to fare somewhat better from a demand perspective than the economy-at-large,” the report said.
Executives from SpaceX and OneWeb say their companies are working intensely on user terminals so customers will be able to get internet connectivity from their respective low Earth orbit constellations.
Sea Launch’s mobile Odyssey launchpad was loaded onto a cargo ship, the Xin Guang Hua, for transport from California.