OneWeb: $600M in backlog as of Aug. 30, and a $229M impairment charge for collapsed Russian launch deals

by Peter B. de Selding

PARIS — Startup satellite broadband constellation operator OneWeb Holdings Ltd. booked a $229 million impairment charge following the collapse of its launch agreements with Russia after Russia's Feb. 24 invasion of Ukraine, OneWeb said.

The charge accounted for more than half of OneWeb’s $425.9-million operating loss for the 12 months ending March 31, 2022, the company said in a financial disclosure.

The impairment includes the cost of six Russian Soyuz launches that likely will never occur, 36 OneWeb satellites that have remained in Russia . . .

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