Virgin Orbit Continues to Seek $46.3 Million from OneWeb

LauncherOne operated in powered flight for only seconds before an anomaly shut it down after being dropped from the Cosmic Girl Boeing 747. (Credit; Virgin Orbit)

With OneWeb having emerged from bankruptcy, the satellite broadband company new owners, Bharti Global and the British government, have had to deal with creditors.

Virgin Orbit is one of them. Richard Branson’s launch provider is still trying to collect $46.3 million the company feels it is owned from a deal gone bad.

(more…)

OneWeb Gets FCC Approval for Additional 1,280 Satellites

by Douglas Messier
Managing Editor

Satellite broadband provider OneWeb received FCC approval this week to launch an additional 1,280 satellites, increasing the size of the company’s constellation to 2,000 spacecraft.

The additional satellites will provide services in the V-band and operate at an altitude of 8,500 km (5,282 miles).

“After review of the record, we conclude that granting OneWeb access to the U.S. market for its proposed V-band satellite system would increase competition for the broadband services proposed to be provided by such systems to American consumers, particularly in underserved areas, offer a greater likelihood that such a large system is able to fulfill its ambitions and deploy the proposed services, and thereby serve the public interest, subject to the requirements and conditions specified herein,” the FCC said.

(more…)

U.S. Bankruptcy Court Approves OneWeb Sale

The sale of bankrupt satellite maker OneWeb to the UK government and Bharti Global Ltd of India was approved by the Bankruptcy Court for the Southern District of New York on Friday.

The partners bid more than $1 billion for the assets of the company, which was launching a satellite constellation to provide high-speed broadband services around the world.

“The parties will work to complete the plan sale process, including filing our plan and disclosure statements with the court, conducting voting with our creditors, and seeking regulatory approval and completing customary closing conditions, and expect the process to be completed by the fourth quarter of 2020,” OneWeb said in a statement.

Before it declared bankruptcy in March, OneWeb had 74 of 648 satellites planned for the company’s initial constellation.

UK Government to Acquire Bankrupt OneWeb

LONDON (UK Government PR) — The government has today (3 July) led a successful bid to acquire OneWeb, which develops cutting-edge satellite technology in the UK and in the US.

The move signals the government’s ambition for the UK to be a pioneer in the research, development, manufacturing, and exploitation of novel satellite technologies through the ownership of a fleet of Low Earth orbit satellites.

(more…)

Bankrupt OneWeb Acquired by Consortium Led by UK Govt, Bharti Global

OneWeb satellite (Credit: OneWeb)
  • A consortium of Her Majesty’s Government (HMG) (through the UK Secretary of State for Business, Energy and Industrial Strategy) and Bharti Global Limited have committed to provide more than USD$1 billion to acquire OneWeb and fund the full restart of its business operations.
  • OneWeb will look to resume operations as soon as possible and continue with progress towards providing global high-speed, low latency connectivity via its state-of-the-art satellite constellation.
  • Agreement remains subject to approval by OneWeb’s creditors, the Bankruptcy Court, and applicable regulators, with completion expected by the fourth quarter of 2020.

LONDON, July 3, 2020 (OneWeb PR) – OneWeb, the communications company whose mission is to bring connectivity to governments, businesses, and people everywhere, announced today that it has entered into an agreement with a consortium led by HMG  (through the UK Secretary of State for Business, Energy, and Industrial Strategy) and Bharti Global Limited (“Bharti”) for the acquisition of the OneWeb business in connection with its court-supervised sale process. The bid is designed to capitalise the company sufficiently as a going concern to effectuate the full end-to-end deployment of the OneWeb system.

(more…)