LONDON, UK, March 27, 2020 (OneWeb PR) – OneWeb (“OneWeb,” “the Company”), the global communications company with a mission to bring connectivity to everyone everywhere, announced today that the Company and certain of its controlled affiliates have voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. The Company intends to use these proceedings to pursue a sale of its business in order to maximize the value of the company.
The Financial Times reports that OneWeb is preparing to file for bankruptcy and lay off most of its employees after failing to obtain additional financing from investors to continue building out its satellite broadband constellation.
The story is behind a paywall, so I don’t have a lot of details at this point. OneWeb will apparently keep a small team in place to operate the 74 satellites the company has launched into orbit while it seeks addition funding needed to emerge from bankruptcy.
Attempts to obtain additional funding from the company’s main backer, SoftBank, fell through.
The news comes less than a week after a Russian Soyuz booster launched 34 OneWeb satellites. Two previous launches in February 2019 and February 2020 had orbited 6 and 34 spacecraft, respectively.
OneWeb, which was founded by Greg Wyler, has been planning to launch 680 satellites in order to provide broadband services to any location on Earth.
The company’s main competitor is SpaceX, which has launched 362 satellites as part of its Starlink constellation. SpaceX has received approvals to launch nearly 12,000 Starlink satellites. Elon Musk’s company has also submitted an application to the Federal Communications Commission to launch an additional 30,000 spacecraft to bring the total to 42,000.
LONDON, March 21, 2020 (OneWeb PR) — OneWeb, the global communications company with a mission to bring connectivity to everyone everywhere, announced today the successful launch of 34 more satellites, aboard a Soyuz launch vehicle from the historic Baikonur Cosmodrome, Kazakhstan. Lift-off occurred on March 21st at 17:06 UTC. OneWeb’s satellites separated from the rocket and were dispensed in nine batches with signal acquisition anticipated in the coming hours.
This is the second of its 34 satellite launches in six weeks, an achievement made possible by the pace and execution of OneWeb Satellites’ high-volume production factory in Florida. This launch brings the total number of satellites in the constellation to 74, further solidifying OneWeb’s position as a leading global communications company.
OneWeb, the satellite operator backed by SoftBank Group Corp., is mulling a possible bankruptcy filing to address a cash crunch as it grapples with high costs and stiff competition, according to people with knowledge of the preparations.
The company is considering seeking court protection even as it continues to review possible out-of-court alternatives, said the people, who asked not to be named discussing private company plans.
OneWeb would be among the first SoftBank-backed companies to file for bankruptcy. A spokeswoman for SoftBank, which is OneWeb’s largest investor, declined to comment.
PARIS (Arianespace PR) — The European Space Agency (ESA) has finalized its preorder for four more launches on Ariane 6, along with an initial payment.
Using Ariane 62, the light version of the new European launcher, these missions will be carried out on behalf of the European Commission to continue the deployment and operational ramp-up of the high-performance Galileo satellite navigation system.
OneWeb’s third launch and second of 2020 is scheduled for March 21st from the Baikonur Cosmodrome, Kazakhstan.
Arianespace will launch 34 OneWeb satellites, bringing the OneWeb constellation to 74 satellites.
OneWeb’s launch theme will commemorate the late Russian cosmonaut Alexei Leonov, who became the first person to walk in space 55 years ago this month.
LONDON, March 17, 2020 (OneWeb PR) – OneWeb, the global communications company with a mission to bring connectivity to everyone everywhere, confirmed its next launch will take place on Saturday, March 21st at 17:06 (GMT) / 1:06 PM (EDT) / 22:06 (local time) from the historic Baikonur Cosmodrome in Kazakhstan.
LONDON, 9 March 2020 (OneWeb PR) – Intellian, the global leader in mobile satellite communication antenna systems, has signed a contract with OneWeb, the global communications company with a mission to bring connectivity to everyone everywhere, to manufacture User Terminals for use on the OneWeb Network.
Hughes will market OneWeb servicesaround the world for applications such as enterprise and government networking, cellular backhaul and community Wi-Fi hotspots
Washington, DC, March 9, 2020 (OneWeb PR) – Hughes Network Systems, LLC (HUGHES), the global leader in broadband satellite networks and services, and OneWeb, the global communications company with a mission to bring connectivity to everyone everywhere, today announced that Hughes has become a worldwide distribution partner for OneWeb.
LONDON, 7 February 2020 (OneWeb PR) — OneWeb, the global communications company with a mission to bring connectivity to everyone everywhere, today announced the successful launch of 34 satellites, aboard a Soyuz launch vehicle from the historic Baikonur Cosmodrome, Kazakhstan.
Lift-off occurred on February 06th at 21:42 pm UTC. The OneWeb satellites separated from the rocket and were dispensed in nine batches over a period of several hours.
A Soyuz 2 rocket launched 34 OneWeb satellites from the Baikonur Cosmodrome today. The first two of the satellites, which will provide broadband services, have been released. The remaining 32 will be deployed in the coming hours.
OneWeb launched its first six satellites last year. The initial constellation will contain 648 satellites.
London, UK, 30 January 2020 (OneWeb PR) — OneWeb, the global communications company with a mission to bring connectivity to everyone everywhere, today confirms its upcoming launch of 34 satellites has been scheduled for Thursday 6 February at 2142 (GMT) / Friday 7 February 0242 (local time) from the historic Baikonur Cosmodrome, Kazakhstan.
This marks the start of a regular launch campaign during 2020 that will rapidly grow OneWeb’s first phase constellation of 648 satellites and represents one of the largest civilian satellite launch campaigns in history. Each satellite forms an integral part of the high-speed global satellite broadband network and together will activate OneWeb’s first customer demos by the end of 2020 to provide full commercial global services for sectors such as maritime, aviation, government and enterprise in 2021.
London and Nur Sultan, January 27, 2020 (OneWeb PR) – OneWeb, the global communications company, whose goal is to connect everyone everywhere, has announced that it signed a Memorandum of Understanding (MoU) with Astana International Financial Centre (AIFC), the largest financial hub in Central Asia, to accelerate broadband connectivity in Kazakhstan.
The MoU marks the start of a partnership focused on achieving two important goals in Kazakhstan and Central Asia: providing the first low-latency satellite broadband in Kazakhstan and establishing a technical hub in the country to support OneWeb’s communication service delivery across Central Asia.
London and Farnborough, UK – 13 January 2020 (OneWeb/SatixFY PR) — OneWeb and SatixFy UK today announce plans to add a digital technology pathway payload that will include a full digital payload into OneWeb’s launch schedule during 2021.
This new technology will pave the way for satellites with a higher level of flexibility to efficiently support peaks in demand without oversizing the constellation.
COURCOURONNES, France (Arianespace PR) — Arianespace is heading into 2020 fully prepared to capitalize on the latest commercial opportunities for Ariane 5 and to succeed with Vega’s return-to-flight, planned for March. Arianespace also is aiming to set three new records:
For the number of launches during the year, with up to 12 opportunities identified from the Guiana Space Center in French Guiana, along with the first flights of Vega C and Ariane 6; and eight more from the cosmodromes at Baikonur and Vostochny. (from these two cosmodromes, this launch cadence could be augmented based on satellite availability),
For the number of satellites placed into orbit – more than 300 – taking into account the continued deployment of OneWeb satellites and the SSMS rideshare mission with Vega, and
For the number of launch pads at its service: four at the Guiana Space Center (for Ariane 5, Ariane 6, Soyuz and Vega/Vega C), along with one each at the Baikonur and Vostochny cosmodromes for Soyuz.