Moody’s Investors Service credit ratings agency has given a “negative outlook” to certain debt owed by satellite operator SES. Moody’s overall rating is their Baa2 rating on SES SA and SES Global Americas Holdings GP. Moody’s says the outlook for both entities remains negative. “The ratings affirmation reflects the slower reduction in the company’s revenues, […]
Eutelsat released its first half-year results on February 17th and reported that like-for-like revenues had fallen 4.2 per cent. The satellite operator also cautioned that its full-year numbers would be at the lower end of guidance. However, drilling down into the numbers, it reported that actual revenues of €628.5 million (for the half-year to December […]
The long-running dispute between SES and Intelsat over the SES claim for a full 50 per cent share of the FCC’s C-band accelerate incentive payments is now getting to the focal point in their arguments. Intelsat’s lawyers submitted 134 pages of Exhibits that they depend on and potentially used to support their rebuttal of the […]
Intelsat has wrapped the first stage of the FCC-mandated clearance of C-band spectrum over the US. Intelsat qualifies (as does SES) for the FCC’s Phase 1 of the clearance scheme ahead of the December 5th deadline. Phase II must be completed by the end of 2023. Intelsat’s overall payment from the FCC for clearing both […]
SES says it has received validation from the FCC in regard to the satellite operator’s Phase I C-band clearing obligations. It means that SES will receive $1 billion (€0.89) in an incentive payment from the FCC during the next few months. There’s another almost certain $3 billion due to be paid by the end of […]
Trade body the Aerospace Industries Association (AIA) is leading a coalition of organisations representing the world’s leading aerospace manufacturers, airlines, pilots, and operators in calling for a delay to the deployment of 5G technologies to the C-band until the safety and efficiency of the National Airspace System (NAS) is ensured. In a letter to the […]
It is alleged by Intelsat’s legal team that SES has engaged expert witnesses with at least one of them promised a “recovery-based” contingent fee tied directly to his testimony. The lawyers state that such fees in return for expert testimony is illegal. “Such an arrangement violates clear public policy, including the ethical rules governing lawyers […]
The Satellite Industry Financial Analysis, 11th Edition from satellite and space sector research and consulting firm NSR projects the global satcom industry contracted by 2.3 per cent in FY2020 to $13.4 billion (€11.6bn). While continuing sector trends such as a weakening DTH sector and COVID-19 impacts on aeronautical and maritime markets drove declines, enhanced revenue […]
SES highlighted its “improving trajectory” of Video revenues for the six months to June 30th which were 3.9 per cent down y-o-y at €526 million. SES’s argument is that last year, its lost revenue position for H1 trading was at -8 per cent down. Its Networks division’s underlying revenue of €349 million was flat compared […]
Another clutch of legal Motions were filed on August 2nd to Intelsat’s bankruptcy court by both parties in the bitter dispute between SES and Intelsat. Lawyers for Intelsat filed their Motion for the court to dismiss the SES demand for Summary Judgement in the SES claim, which – in essence – is demanding a 50/50 […]