PARIS — Satellite fleet operator Intelsat saw its backlog drop $400 million in the three months ending June 30, mainly due to the April failure of the IS-29e satellite, which was less than four years old and had been a pillar of Intelsat’s future growth strategy.
Backlog stood at $7.5 billion on June 30, down from $7.9 billion on March 31.
Intelsat booked an asset-impairment charge of $382 million during the period as a result of the failure, which a board of . . .
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