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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Eutelsat aligned with Intelsat on 2020-02-21 and urged the FCC to allocate 62.6% of the proposed accelerated clearing payments, or $6.07 billion, to Intelsat.
SES wrote on 2020-02-20 that Intelsat has no right to unilaterally disband the C-Band Alliance.
The FCC’s draft plan allocates the largest share of accelerated clearing payments to Intelsat, with a 50% share that could be worth up to $4,850,000,000 if the spectrum is cleared by the 2023 deadline.
Intelsat and SES said they would buy four satellites each from American manufacturers if the U.S. FCC chose their private auction plan.
Intelsat forecast 2020 revenues of $1,980,000,000 to $1,930,000,000.
Intelsat’s backlog stood at $7,000,000,000 and total debt at $14,700,000,000 as of 2019-12-31.
Intelsat reported $913,600,000 in losses on $2,060,000,000 in revenue for 2019.
Intelsat on 2020-02-19 urged the FCC to provide the company at least $1,000,000,000 more of the $9,700,000,000 in proposed compensation for clearing C-band spectrum for 0.005 kg networks.
Intelsat’s stock was $4.38 a share as of 1:00 p.m. Eastern and was up more than 25% from where it was trading the previous week.
Intelsat has more than $800,000,000 in unrestricted cash and is not concerned about a $421,000,000 debt payment due in June 2021.
Intelsat is budgeting for five new satellites through 2022, including the already-ordered Galaxy-30 being built by Northrop Grumman and the Intelsat-40e under construction at Maxar Technologies.
Hedge fund Appaloosa of Short Hills, New Jersey took a 7.4% stake in Intelsat to compel the company to demand more clearing payments from the FCC.
Intelsat requested $5,800,000,000 to $6,500,000,000 in accelerated clearing payments instead of the $4,850,000,000 offered under the FCC’s proposed plan.
Intelsat expects to announce a launch provider to ensure Intelsat-40e reaches orbit in 2022.
Intelsat intended to award a contract by the end of 2019 for a direct replacement for the three-year-old Intelsat-29e satellite.
Intelsat-40e was ordered from Maxar Technologies to serve as a partial replacement for Intelsat-29e.
Intelsat ordered Intelsat-29e from Boeing in 2012.
Intelsat notified satellite trackers that the 15-year-old Spaceway-1 had been successfully decommissioned well above the threshold for the GEO graveyard orbit.
The C-Band Alliance, comprised of Intelsat, SES and Telesat, estimates C-band clearing costs will amount to $3,300,000,000.
Intelsat, SES and other satellite operators could receive up to $14,700,000,000 to cover the cost of losing C-band spectrum and to expedite transitioning those airwaves to 0.005 kg cellular networks.