Finance

AsiaSat has appointed Victor Au as its new general counsel, the company announced April 22. Au has more than two decades of experience working across international and local law firms and in-house legal departments in areas of corporate, commercial and intellectual property. He will be responsible for overseeing legal affairs and regulatory compliance for AsiaSat....

Lockheed Martin on Tuesday posted declines in its top and bottom lines in the first quarter due to program transitions and supply chain and operations challenges related to COVID-19. COVID impacts led Lockheed Martin last fall to reduce its sales outlook for 2021 and 2022 and suggest about 2% growth in 2023. Net income in the...

Iridium Communications reported 15% revenue growth in the first quarter of 2022, compared to the first quarter of 2021. The satellite operator on Tuesday reported Q1 total revenue of $168.2 million. Total revenue increased 15% from the comparable period of 2021, while service revenue grew 9% compared to 2021. Iridium ended the quarter with 1,781,000...

Employment in the United Kingdom space industry grew nearly 7% between 2019 and 2020, according to a new industry report released Thursday. Consulting firm BryceTech compiled the survey, the “Size and Health of the UK Space Industry 2021” survey, on behalf of the UK Space Agency. The survey found that employment in the U.K. space...

Former Inmarsat CEO Rupert Pearce is joining energy service company Highview Power as CEO, the company announced Monday.  Pearce led Inmarsat for nearly a decade before his departure in early 2021. He was replaced by Inmarsat’s current CEO Rajeev Suri. After departing Inmarsat, Pearce took a role with technology venture capital Columbia Capital in July...

Satellite industry veteran Yoel Gat died on April 8, SatixFy Communications announced Sunday. Gat was a 40-year veteran of the satellite industry and co-founded Gilat Satellite Networks, RaySat, and SatixFy. He was serving as co-chairman and CEO of SatixFy.  “We are deeply saddened by the passing of Yoel. He was a tremendous visionary and the...

SES continued to fortify its cloud strategy with the signing of a new dedicated connectivity deal with one of the world’s biggest IT companies, Oracle. The contract, which SES announced on Thursday, will see the operator provide connectivity to Oracle Cloud through Oracle Cloud Infrastructure (OCI) FastConnect. SES, which is already a member of the...

Investors gave a staggering $15 billion in total financing to startup space companies in 2021, according to a report published Wednesday by BryceTech. This nearly doubles the previous record of $7.7 billion in financing that space startups received in 2020, and represents a figure that is more than half of NASA’s entire 2022 budget ($24.04...

Two dozen executives from the space industry’s largest companies signed an Aerospace Corp.-drafted industry pledge Tuesday morning to increase workforce diversity, report annual data on diversity in senior leadership roles, and to sponsor grade school education programs and work with universities to give more underrepresented students access to potential careers in space. Signatories on the...

Virgin Orbit’s revenue was up in 2021, but the company’s net loss increased as well. The smallsat launcher released its first-ever, full year financial results on March 29, after becoming a public company at the end of 2021.  2021 was a crucial year for Virgin Orbit. Not only did the company go public, but it...