Intelsat’s new CEO doesn’t sound like someone preparing to sell the company to SES

by Peter B. de Selding

PARIS — Intelsat’s new chief executive said the company is likely to increase revenue in 2022 over 2021, which would be an unusual event for the satellite operator after spending years managing a colossal debt and struggling to invest to maintain market share.

The debt has been cut — from $16 billion to $7 billion — thanks to the magic of Chapter 11 bankruptcy reorganization. Intelsat entered Chapter 11 to ensure it could finance the investment needed to reap $4.87 billion in payments from the U.S. government-organized C-band spectrum . . .

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