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Boeing loses major ABS satellite order

Bermuda and Hong Kong-based satellite operator ABS had an order with Boeing to build its ABS-8 satellite. The order was placed last June and was to have served Australia, the MENA region, Russia and South and South-East Asia. It was due for delivery in 2017 and was a replacement craft for ABS-7 at 116.1 degrees East.

That contract is now in extreme jeopardy, and officially was terminated last month because Boeing was unable to secure export financing worth several hundred million dollars.

The US Export-Import Bank had its charter to do business end on June 30th, and there are major doubts over how US exporters and their foreign customers – in this case Boeing and ABS – can fund major export contracts.

Boeing has reportedly been told that ABS would now be seeking non-US suppliers of a satellite which could arrange bank financing.

Canada’s MDA, which owns Space Systems/Loral, has said it is considering moving its SS/L business out of the US for similar reasons (see separate story).

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