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Global Eagle now paying cash penalty for financial-reporting delays

PARIS — Aeronautical and maritime satellite service provider Global Eagle Entertainment (GEE) on July 12 announced the first of what could be an expensive series of cash payments to its creditors as a penalty for not filing recent earnings statements. Los Angeles-based GEE said that as of July 11 it had paid its lenders, led by Citibank, the $1.4 million required by loan covenants that were...

French BPIFAE export-credit agency gives Globalstar until Oct. 30 to find $114 million

PARIS — Mobile satellite services provider Globalstar Inc. has agreed to seek a strategic investor or find some other source of cash as part of the latest agreement it reached with its creditors, led by the French government, Globalstar said July 7. In exchange for loosening debt covenant deadlines, Globalstar committed to still-stricter spending limits, including limits on capital spending to...

Sky and Space Global: Constellations need relief on regulatory filing, insurance costs

UPDATE July 17: Sky and Space Global said its three Diamond satellites have successfully demonstrated their RF intersatellite links at up to 2 Mega Symbols per second, in what the company said is a first for nanosatellites. Commercial service from these first three satellites will start “within a few weeks” following more in-orbit testing. PARIS — Startup narrowband satellite...

Shortseller Kerrisdale turns harsh gaze on ViaSat, consumer satellite broadband

PARIS — A well-known Wall Street short seller has mounted a sustained attack on satellite broadband provider ViaSat Inc., saying ViaSat has inflated its consumer-broadband results with non-bandwidth-related add-ons that mask the real story. In a report on ViaSat that reads like a prosecution brief, Kerrisdale Capital largely bypasses ViaSat’s defense and aeronautical businesses to focus on its...

Ariane 5 launch for Inmarsat, Hellas Sat, ISRO returns Arianespace to pre-strike schedule

PARIS — Europe’s Ariane 5 heavy-lift rocket on June 28 successfully placed two telecommunications satellites into geostationary-transfer orbit in the rocket’s 80th consecutive success since 2003. More importantly, the launch — the fourth Ariane 5 in 2017 and the seventh mission for launch-service provider Arianespace — puts Arianespace back on its originally planned schedule for 12 launch...

Interview: ViaSat President and COO Richard A. Baldridge

Key takeaways: — ViaSat-2 has completed its chemical burn, now on electric. All OK, it will reach GEO slot in October. You’ve likely never seen a detailed photo of ViaSat-2 and won’t now. — 2 ViaSat-3 satellite payloads & platforms are progressing on schedule and on budget at ViaSat and Boeing. —ViaSat wants Eutelstat ViaSat-3 partnership but concedes political headwind and will go it alone...

Eutelsat, ViaSat, joined by Panasonic, ask EU regulators to block Inmarsat’s aviation play

TEL AVIV — Eutelsat and ViaSat are asking a European court to block Inmarsat’s planned aeronautical-connectivity service, saying Inmarsat is violating the terms of its license by passing off a terrestrial network as a satellite system. The legal action comes on the eve of the launch of Inmarsat’s European Aeronautical Network (EAN) satellite payload, which is sharing a Thales Alenia Space-built...

Intelsat reduces revenue, EBITDA forecast for 2017, trims capex plans

Intelsat is banking on its Epic Ku-band HTS satellites to open new markets with lower per-megahertz prices. But it’s taking longer than expected for the new demand to compensate for revenue declines in its ongoing business. Credit: Intelsat PARIS — Satellite fleet operator Intelsat on June 16 trimmed its revenue and EBITDA forecast for 2017 and reduced is planned capex following...

Iridium thinking ahead to life after Coface loan, when M&A is possible

PARIS — Mobile satellite services provider Iridium Communications expects to pay down its export-credit-agency loan early by taking advantage of favorable commercial financing markets to be able to acquire an Internet of Things (IoT) business, Chief Executive Matt Desch said June 13. Desch did not specify a given investment, but said Iridium would not refinance its $1.8-billion loan from...

exactEarth still paying for Canadian contract loss, but backlog growing

PARIS — Satellite maritime tracking service provider exactEarth Ltd. on June 8 reported continued financial fallout from a lost Canadian government contract but said orders were up and the second-generation service showed promising results. Canada-based exactEarth said the likely tipping point for a revenue boost will be when 30 Automatic Identification Service (AIS) transponders are in orbit as...

Arianespace Ariane 5 + ViaSat-2 + Eutelsat 172B carried record $786 million in insurance

PARIS— June 1’s successful Ariane 5 launch was a key event for the 2018 revenue of the two customers, ViaSat Inc. and Eutelsat and a huge relief for space insurance underwriters. At $786 million, the Ariane 5 mission carried the most insurance ever provided for a single launch. The ViaSat-2 Ka-band broadband satellite was insured for $545 million, which might not have been enough to cover the...

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