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Telesat’s revenues fell 5% to 183 million Canadian dollars for the three months ended 2023-03-31 compared with the same period last year on a foreign-exchange-adjusted basis.
Telesat expects to start deploying satellites for the Lightspeed constellation around 2026, six years later than originally planned.
Erwin Hudson joined Telesat in 2017 to lead development of the LEO constellation that was projected at the time to launch in 2020 for commercial services starting in 2021.
Telesat has lined up about $3,000,000,000 for Lightspeed via internal resources and Canadian government funding.
Telesat’s adjusted EBITDA 2022-12-08% to 139 million Canadian dollars for the three months ended 2023-03-31.
The $3,000,000,000 that Telesat has lined up represented about two-thirds of Lightspeed’s budget before inflation and supply chain issues added at least $250,000,000 in costs last year.
Telesat previously planned to use rockets still under development by Blue Origin and Relativity Space to deploy the Lightspeed constellation.
The CONDOR Mk2 predecessor was delivered to Telesat Government Solutions as part of the DARPA Blackjack program.
The CONDOR Mk2 was recently delivered to Telesat Government Solutions as part of the DARPA Blackjack program.
Telesat decided not to order any replacement geostationary satellites in the current year while it works to get Lightspeed into production.
Telesat’s adjusted EBITDA for 2022 was 568 million Canadian dollars, a 5% decline year-over-year and an 8% decline on a foreign-exchange-adjusted basis.
Telesat expects to invest between 40 million and 70 million Canadian dollars on Lightspeed in the current year, subject to change if the project’s financing and construction program is finalized.
Telesat intends to provide service continuity for some geostationary customers by moving them to the Lightspeed constellation.
Mynaric was selected by Telesat Government Solutions in 2020-10-01 to supply optical communications terminals to the Blackjack satellite program.
Mynaric was selected by Telesat GS in 2020-10-01 to supply optical communications terminals to the Blackjack satellite program.
Mynaric completed extensive product development and testing and collaborated with Telesat GS in preparation for the CONDOR inaugural customer mission.
On 2023-02-07, Anuvu is leasing ground infrastructure from Canadian satellite operator Telesat for a geostationary constellation it expects to start deploying 2023.
Anuvu expanded a capacity leasing deal with Telesat that uses terminals designed to be forward-compatible with Telesat Lightspeed.
Telesat is installing new 9-meter Ku-band and 9.2-meter Ka-band antennas at its Allan Park teleport in Ontario and at a backup site in Calgary, Alberta under its deal with Anuvu.
Cost overruns and production issues have delayed Telesat’s LEO commercial services until at least 2026.