OneWeb launched the final 36 satellites of its initial 616-satellite “constellation,” allowing the rival of Elon Musk’s Starlink to offer global broadband coverage this year.
The launch took place in Sriharikota, an island off the southern Indian state of Andhra Pradesh.
The company filed for bankruptcy in March 2020 after being shut out of credit markets by the economic turmoil caused by Covid-19, and was rescued by the UK government and Indian telecom tycoon Sunil Mittal’s Bharti Group. Another major shareholder is French satellite firm Eutelsat SA, which agreed to merge with OneWeb last July pending regulatory clearances and a shareholder vote.OneWeb has $900 million in contracted revenues and plans to break even by 2025, Masterson said.
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