OneWeb takes $229m loss after Russians grab 36 satellites

Author: EIS Release Date: Sep 14, 2022

The Ukraine war has cost OneWeb $229.2 million after the Russians have refused to return 36 OneWeb satellites waiting to be launched from the Baikonur spaceport.

 

OneWeb cancelled the launches after war broke out and will use SpaceX instead.OneWeb takes $229m loss after Russians grab 36 satellites

 

OneWeb has now got 428 satellites in orbit and needs another 220 to complete its 648 satellite constellation.

 

OneWeb lost $389.8 million on revenue of $9.6 million in its FY to March 2022. It has raised $2.7 billion in equity funding,

 

OneWeb’s investors are: Hanwha, Hughes, Bharti, Eutelsat, Softbank and the UK government,