SES: O3b mPower satellites’ defect to reduce performance, lifespan of first 6 satellites, cut 2024 revenue/EBITDA by ~5%

by Peter B. de Selding

UPDATE: This story was updated to add comment from Boeing.

LA PLATA, Maryland — Satellite fleet operator SES raised the likelihood of an insurance claim to account for what has now been identified as a serious defect in the four Boeing-built O3b mPower Ka-band broadened satellites now in orbit.

The sporadic trip-off of some of the satellites’ power modules will delay the start of commercial mPower service until no earlier than April 2024 and will reduce SES’s previously estimated 2024 revenue and EBITDA by around 5%, SES Chief Executive Ruy Pinto . . .

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