TAMPA, Fla. — Intelsat reported a 7% drop in revenue for 2020 after declines in multiple business units, underlining the importance of C-band clearing proceeds for the satellite operator’s recovery efforts. The company recorded $1.91 billion in 2020 revenue, compared with $2.06 billion for 2019, as COVID-19 hammered mobility and […]
Global Eagle
23 posts
TAMPA, Fla. — Global Eagle Entertainment, a provider of media services and satellite Wi-Fi to aircraft, boats and remote locations, has exited Chapter 11 bankruptcy. Around half a dozen of the satellite communication provider’s lenders took control of the company March 23, shedding about $488 million of its debt in […]
TAMPA, Fla. — The frenzy of activity swirling around SPACs is pushing space into a new era of risk-taking, according to two satellite industry veterans. The past decade’s flow of private capital into megaconstellations and launch startups was a sedate “tea party” in comparison to what’s happening now, Iridium Communications […]
TAMPA, Fla. — Marlink’s private equity owners have put the maritime connectivity provider up for sale, according to industry sources close to the matter. A private equity source said Apax Partners, which bought Marlink from Airbus for an undisclosed sum in 2016, has hired bankers to explore a sale process. A separate […]
In his first interview as Speedcast CEO, Joe Spytek speaks with SpaceNews about exiting Chapter 11 bankruptcy and the company’s next steps. Speedcast is emerging from bankruptcy into a very different satellite communications market. Bankruptcies, acquisitions and an ongoing pandemic are continuing to reshape an industry in the midst of […]
To receive FIRST UP Satcom, a weekly SpaceNews newsletter for satellite and telecom professionals, sign up here. TOP STORIES French propulsion startup Exotrail has signed two contracts with the European Space Agency for its smallsat electric propulsion technology. Under the first contract, Exotrail said it will “accelerate the qualification and flight demonstration” […]
WASHINGTON — Global Eagle Entertainment, a provider of media services and satellite Wi-Fi to aircraft, boats and remote locations, filed for Chapter 11 bankruptcy protection July 22, citing the coronavirus pandemic’s impact on global travel. The Los Angeles-based company, which has close to $1.1 billion in debt, said around half […]
WASHINGTON — As the economic impact of the coronavirus outbreak grows worldwide, executives believe the space industry will not be immune from its effects but also may not be hurt as badly as other sectors. The spread of the coronavirus disease, formally known as COVID-19, continues to grow both in […]