Airbus satellite division causes concern
February 19, 2024
By Chris Forrester
Airbus last week announced its financials for 2023, but one major segment stood out which was a massive €600 million ‘write down’ in costs set against its development of its OneSat software defined satellite. The craft has suffered delays, cost increases and a consequential damaging reassessment of its market prospects.
Airbus has reported that it has received nine firm orders for OneSat but none have yet been delivered. Airbus OneSat is a fully software-defined craft and permits satellite operators to adjust many of the craft’s core parameters including coverage, power and bandwidth and take into account changing market and business demands during the satellite’s life in orbit.
Airbus said that it is working on a deep investigation into Airbus Space Systems as it attempts to get a handle on the satellite’s problems.
Orders in hand at Airbus for OneSat include Viasat (3 craft), Intelsat (2), Thaicom, Australia’s Optus and SkyPerfect JSAT (of Japan).
“When it comes to these charges, and building on the work done in the first nine months, we extended the scope in Q4 and reviewed our space programmes in depth,” Airbus CFO Thomas Toepfer said in a post-results analyst call on Airbus’s full-year financial results.
Airbus overall reported revenues of €11.495 billion, with the Space Systems division being responsible for 20 per cent of that total.