Jabiru-1 is “70% complete”
September 21, 2015
By Chris Forrester
Satellite builder Lockheed-Martin (L-M) says it has received “considerable interest” in the part-completed Ka-band satellite (Jabiru-1) originally ordered and being built for Australia’s NewSat. NewSat, and its various subsidiaries, which are now in bankruptcy.
L-M says the satellite is about 70 per cent complete, and they have had 13 expressions of interest in the satellite, and with most enquiring whether the craft could be re-purposed from its original mission (which was to serve over the Asia-Pacific region).
Lockheed-Martin says it hopes to find a buyer for the craft within the next six months. L-M retained ownership rights in the satellite under the construction contract it had in place with NewSat until the costs of the build had been paid in full. With NewSat’s insolvency the ownership of the satellite stayed firmly with them.
NewSat’s receivers sold the teleport also owned by NewSat for A$12 million in August.
NewSat Ltd was removed from Australia’s Stock Exchange (ASX) on August 31st.