Finance

Eutelsat has sold its interest in its Eutelsat 25b/Es’hail 1 satellite to Es’hailSat in a deal worth 135 million euros ($156.30 million), the company announced yesterday. Eutelsat’s share of the satellite generated FY2018 revenues of approximately 16 million euros supporting video applications. Eutelsat 25b/Es’Hail-1 was launched by Arianespace in 2013 and became Qatar’s first communications...

World View has appointed former SSL Chief Technology Officer and Vice President Matteo Genna to lead engineering and manufacturing at the company. Genna will provide executive leadership and direction in shaping World View’s future in pursuit of the company’s mission to pioneer a new economy in the stratosphere. Genna will be responsible for leading the...

Maxar Technologies issued a stern response to a report written Aug. 7 by Spruce Point Capital Management’s Ben Axler alleging serious mismanagement of the company by its CEO Howard Lance. Maxar claims the report “contained a number of inaccurate claims and misleading statements”. The company went further saying that it believes the report was a direct attempt by a short-seller...

Hughes reported a significant increase in its revenues for the first six months of its 2018 fiscal year, providing its parent company EchoStar with enough momentum to surprise analysts with positive overall results. For the six months to the end of June, Hughes had revenues of $827.1 million. This compares to a figure of $692.1...

United Arab Emirates-based operator Yahsat completed its acquisition of a majority and controlling stake in mobile satellite services operator Thuraya and announced a series of new executive appointments to the company’s C-suite. Ali Al Hashemi, General Manager of Yahsat’s Government Solutions division, has been named the new CEO of Thuraya, replacing former CEO & CTO...

Lockheed Martin, Beach Point Capital, Goldman Sachs and a consortium of investors issued $36 million in Series B financing to end-to-end nanosatellite and microsatellite services and solutions provider Terran Orbital.  The Irvine, California-based company will use the proceeds from the financing to purchase additional equipment for its new, 40,000-square foot design and production facility, the...

Euroconsult expects about 7,000 new smallsats to be launched over the next 10 years, representing a six-fold increase from the 1,200 units launched over the past decade. Spacecraft from 50 constellations and two mega constellations account for more than 80 percent of the 7,000 smallsats, according to the analyst firm’s latest report. The research highlights...

Orbcomm reported a strong increase in its revenues in the first half of this year compared to the same stage last year. However, its net losses through the end of June climbed to more than $17 million, an increase of over $3 million compared to the same stage last year. The company announced revenues for...

Inmarsat produced a better-than-expected set of results, which saw a particularly strong performance in the aviation market. The operator announced that overall revenue for the six months to the end of June reached $717.2 million, an increase of 4.9 percent and $33.5 million compared to the same stage last year. However, it was the aviation...

For the six months to the end of June, Telesat derived revenues of around CA$444 million ($341.23 million), a decrease of four percent compared to the first six months of 2017. Net loss for the six months stood at CA$21 million ($16.14 million). Telesat is the last of the big four operators to report its...