OneWeb to Resume Satellite Launches After Bankruptcy

OneWeb, a firm specializing in broadband communication via satellite, has successfully concluded its proceedings under Chapter 11 bankruptcy protection, the company declared today. The business is now under the official ownership of a partnership formed by the government of the United Kingdom and Bharti Global of India. Furthermore, Neil Masterson has been appointed as the new Chief Executive Officer, succeeding Adrián Steckel, who will continue to contribute as an advisor to the board.

OneWeb is demonstrating a strong desire to resume the deployment of the satellites that will comprise its planned network of 650 satellites – a launch date of December 17th has been established as the goal for the next deployment. Currently, the company has 74 satellites in orbit from three previous launches, all of which took place before the bankruptcy filing in March.

The takeover of OneWeb by the U.K. government and Bharti Global collaboration was announced in July, offering a route for the company, which was facing financial difficulties, to return to operational status with $1 billion in equity investment. Through this new agreement, the company, based in the U.K., will maintain its primary operations from within the U.K., and is being developed as a vital element in establishing the U.K. as a prominent force in the space industry and a center for innovation.

The company also reported that its production facility, a joint venture with Airbus, has restarted operations in Florida and will continue the production of new spacecraft for upcoming launches. The intention is to launch further satellites throughout the following year and into 2022, and to initiate commercial services in specific regions in late 2021, with plans for a worldwide service rollout in 2022.