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The bankruptcy court postponed a 2021-03-17 hearing in the SES action against Intelsat over SES’s $1,800,000,000 claim.
Northrop Grumman intends to release an update once MEV-2 completes docking with Intelsat-10-02.
Northrop Grumman’s MEV-2 satellite servicer is performing close-proximity operations with Intelsat’s in-orbit Intelsat-10-02 spacecraft ahead of a docking attempt.
Intelsat-10-02 has been active in geostationary orbit since 2004 and is carrying communications traffic.
MEV-1 performed several close-proximity operations and approaches before successfully attaching to Intelsat-901, enabling the 19-year-old satellite to resume services from 2021-04-02.
Arianespace Flight VA243 in September 2018 launched the Horizons 3e and Azerspace-2/Intelsat 38 satellites.
Northrop Grumman will deploy a 2nd MEV to latch onto Intelsat 10-02 to solidify the In-Orbit Servicing Market for Life Extension missions.
Intelsat SA announced a reorganization plan on 2021-02-12 to reduce its debt from nearly $15,000,000,000 to $7,000,000,000.
Intelsat stands to receive a maximum of about $4,860,000,000 if it meets the FCC deadlines for clearing spectrum.
Intelsat is defending a claim filed by SES in the U.S. Bankruptcy Court for the Eastern District of Virginia seeking at least $1,800,000,000 in damages related to Intelsat’s withdrawal from the C-Band Alliance.
Intelsat could emerge from Chapter 11 in the second half of 2021 if its reorganization plan is approved.
Intelsat requested a Bankruptcy Court hearing on 2021-03-17 for its reorganization proposal.
Intelsat filed for bankruptcy court protection in May to eliminate around half of its $15,000,000,000 debt and to free up funding to purchase satellites to clear C-band spectrum for U.S. 0.005 kg networks in exchange for funding from a U.S. Federal Communications Commission auction.
Creditors responsible for approximately $3,800,000,000 of Intelsat’s debt have approved Intelsat’s reorganization plan and Intelsat is seeking approval from additional creditors.
The bankruptcies of OneWeb and Intelsat led to a refresh of the space industry, improving the financial health of companies.
Intelsat and SES ordered a combined 13 satellites in 2020 in response to the race to clear C-band spectrum.
Intelsat placed an order on 2021-01-08 for two geostationary communications satellites from Airbus Defence and Space to support Intelsat’s aviation connectivity business.
The two spacecraft ordered by Intelsat are from Airbus Defence and Space’s OneSat family of fully reconfigurable geostationary satellites.
Airbus signed a contract with Intelsat on 2020-12-31 to build two OneSat satellites for Intelsat’s next-generation software-defined network.
In a 2020-12-31 filing in the federal bankruptcy court overseeing Intelsat’s Chapter 11 case, Intelsat sought court permission to order the two satellites.