Intelsat is a multinational satellite services provider, delivering services to commercial, governmental, and military organizations. Operating one of the world's largest integrated satellite and terrestrial networks, the company offers video broadcasting, broadband connectivity, and secure satellite communications. Intelsat partners with organizations like Vodafone, Gilat Satellite Networks, and SKY Perfect JSAT Corporation, and works with launch providers such as Arianespace and International Launch Services to manage its satellite program from design and construction through launch and in-orbit operations.
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The FCC gave Intelsat and SES until the 2020-05-31 to confirm their intent to participate in the incentive plan for accelerated C-band clearing payments.
Intelsat and SES, working with Eutelsat and Telesat as the C-Band Alliance in 2018, said they would need eight new satellites combined to cede 200 megahertz of spectrum.
An Intelsat satellite order could remain intact through a bankruptcy filing if Intelsat can convince creditors the contract is essential to obtaining $4,860,000,000 in accelerated clearing payments from the FCC.
Eutelsat and Intelsat left the C-Band Alliance and the spectrum to be transferred for 0.005 kg increased from 200 megahertz to 300 megahertz.
The skipped $125,000,000 interest payment triggered a 30-day grace period for Intelsat to complete the payment before defaulting.
Intelsat uses 300 megahertz of C-band spectrum mainly for television broadcasting in the United States.
Intelsat Chief Financial Officer David Tolley will receive a retention bonus of $650,000.
Intelsat CEO Stephen Spengler will receive a lump retention bonus of $1,050,000.
Intelsat has until 2020-05-29 to decide whether it will participate in the FCC’s accelerated spectrum clearing program.
Cyrus Capital characterized an Intelsat bankruptcy as potentially jeopardizing up to $4,860,000,000 in FCC incentive payments for the rapid clearing of 300 megahertz of C-band spectrum.
Intelsat agreed to pay retention bonuses to some of its senior employees on or around 2020-05-06, according to an 2020-04-30 filing with the U.S. Securities and Exchange Commission.
Intelsat skipped a $125,000,000 interest payment that was due 2020-04-15.
Intelsat Jackson holds the majority of Intelsat’s $14,700,000,000 debt.
Intelsat has an unsecured claim against Speedcast International for $45,200,000.
Intelsat transferred 30 commercial and government communications customers to the Intelsat-901 satellite, which now uses MEV-1 for propulsion.
Intelsat transitioned customers off Intelsat-901 in November and began moving the satellite out of the geosynchronous arc on 2019-12-02 to meet with MEV-1 in a graveyard orbit a few hundred kilometers above active satellites.
Maxar Technologies is building Intelsat-40e under a contract first announced in November and formalized in February.
Intelsat selected SpaceX to launch the Intelsat-40e geostationary communications satellite on a Falcon 9 rocket in 2022.
Intelsat-40e will be the second Intelsat satellite to launch on a SpaceX rocket, following the Intelsat-35e Falcon 9 mission in 2017.
Intelsat-40e will provide Ku- and Ka-band connectivity over North America supporting government, in-flight connectivity, and enterprise customers.