Satellite communications provider OneWeb officially resurfaced from bankruptcy, readying ambitious operations relaunch plans with a new CEO on board.
In a statement, OneWeb said it has now emerged from US Chapter 11 bankruptcy protection it filed for in March, after securing $1 billion backing from the UK government and Indian conglomerate Bharti Enterprises in July.
It appointed former Thomson Reuters co-COO Neil Masterson as its new CEO, succeeding Adrian Steckel who will continue serving as a board adviser.
The company also scheduled a 36-satellite payload launch for 17 December from Vostochny Cosmodrome in Russia.
As part of its plans, OneWeb aims to deploy Low Earth Orbit (LEO) satellites in 2021 and 2022, and is targeting provision of commercial connectivity services to the UK and the Arctic regions in late 2021, followed by global offerings in 2022.
“Our December launch puts the UK firmly in the global space business, alongside acknowledged Indian telecoms experts, Bharti Global. OneWeb will be a model for responsible co-operation in space”, Masterson stated.
Bharti Enterprises chairman Sunil Bharti Mittal added there was “unmet demand around the globe for broadband connectivity and we intend to continue OneWeb’s social mission”.Subscribe to our daily newsletter Back