Author Topic: Eutelsat OneWeb: Constellation - General Thread (Read 682242 times)

ZachS09 · « **Reply #460 on:** 03/27/2020 04:17 pm »

Does this mean all future OneWeb launches are cancelled and scrapped?

russianhalo117 · « **Reply #461 on:** 03/27/2020 04:33 pm »

Quote from: ZachS09 on 03/27/2020 04:17 pm

Does this mean all future OneWeb launches are cancelled and scrapped?

No. That is up to the bankruptcy court to decide. However the April and May launches have been pushed back to NET June.

Ronsmytheiii · « **Reply #462 on:** 03/27/2020 04:49 pm »

Quote from: gongora on 03/27/2020 02:52 pm

https://twitter.com/pbdes/status/1243559492685619200
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.@OneWeb to file for U.S. Chapter 11 bankruptcy protection as search for investors, already a struggle, runs into a Covid-19-degraded market. @AirbusSpace @Airbus @OneWebSatellit1. https://bit.ly/3apZeoT

A US bankruptcy filing should be for the satellite production company (OneWeb Satellites).

The good news is that being a Chapter 11 bankruptcy, means a restructuring of the company. So all may not be lost yet, there is a chance to survive either with re scoping or new investors (might take some time with the latter)

high road · « **Reply #463 on:** 03/27/2020 05:11 pm »

Are the sats that have already been launched with the grappling fixture from Altius? If OneWeb doesn't find anyone to invest, at least it could be an opportunity for others to use the grappling fixture to connect their own sats to OneWeb's (cannibalizing their systems) or disposing of them so they are no longer in the way.

RedLineTrain · « **Reply #464 on:** 03/27/2020 05:14 pm »

Presumably, the sats on orbit could be disposed of with the propellant already onboard. No need for use of the grappling hook.

RocketGoBoom · « **Reply #465 on:** 03/27/2020 05:27 pm »

Quote from: Ronsmytheiii on 03/27/2020 04:49 pm

The good news is that being a Chapter 11 bankruptcy, means a restructuring of the company. So all may not be lost yet, there is a chance to survive either with re scoping or new investors (might take some time with the latter)

In bankruptcy court, usually the only way that a company reorganizes and comes out of bankruptcy is if there is already revenue. The court looks at the debt, the interest payments required, then compares that to the revenue and profits. Would the company survive if the company didn't have so much debt? Is the company worth saving?

OneWeb is a different animal. There are no revenues yet. There is a satellite constellation that is 10% in orbit. They likely have a bunch of partially built satellites in Florida. They have some deposits paid for Soyuz launches. Those are the assets. There is probably not much debt other than leases on buildings and accounts payable to vendors.

The only way this avoids liquidation is a new investor coming in to buy the assets for pennies on the dollar, then continue with the business plan to meet the ITU deadlines.

https://www.ft.com/content/8695c459-effd-4b54-8d96-69d8e614f6b4

Quote

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But after Friday’s job losses, only a few dozen people will still be working at OneWeb to manage around 70 satellites already in orbit, thereby allowing it to keep its spectrum licence. However, the constellation is currently too small to offer telecoms services or generate revenues and the potential value of its radio spectrum to any acquirers is unclear.

That is a real problem. Much of the knowledge base of the company is now unemployed and looking for new jobs. That will be a huge setback for any new investor getting OneWeb back on track.

My prediction: No new investors want to compete against Elon Musk and his cost advantages with Starlink. OneWeb will be liquidated in bankruptcy court and the satellites will be de-orbited.

DreamyPickle · « **Reply #466 on:** 03/27/2020 05:45 pm »

Jeff Bezos should buy the company. I wonder if it's possible to do so while keeping some of the workforce and the satellite production line.

OneWeb on New Glenn could be a competitive alternative to Starlink on Falcon since both systems are reusable and can scale-up launch rate relatively cheaply.

RedLineTrain · « **Reply #467 on:** 03/27/2020 06:00 pm »

According to Michael Sheetz, Softbank is entirely cutting OneWeb loose. So no prepackaged bankruptcy with Softbank injecting capital.

https://www.cnbc.com/2020/03/27/softbank-to-let-internet-satellite-company-oneweb-file-for-bankruptcy.html

Softbank invested $2 billion of the $3.4 billion total.

Vonbraun · « **Reply #468 on:** 03/27/2020 06:00 pm »

Bezos will wait for the Oneweb to dissolve and then requests the freed frequencies for himself. This way he gets more time to build his own launcher and own satellites.

FutureSpaceTourist · « **Reply #469 on:** 03/27/2020 06:07 pm »

Quote from: Vonbraun on 03/27/2020 06:00 pm

Bezos will wait for the Oneweb to dissolve and then requests the freed frequencies for himself. This way he gets more time to build his own launcher and own satellites.

I guess it really comes down to whether what OneWeb is doing aligns at all with what Bezos wants to do. Also how cheap it is to buy OneWeb now and thereby guarantee no-one else gets in first. Although in the current economic climate it seems a pretty safe bet that no one else will be interested.

gongora · « **Reply #470 on:** 03/27/2020 06:21 pm »

If they could basically get it for the cost of completing the constellation, it could make sense for Amazon or Telesat to look into a takeover. edit: But only if they can get rid of the Intelsat entanglement.

GWR64 · « **Reply #471 on:** 03/27/2020 07:01 pm »

I don't understand the cost structure of a company like Oneweb.
But I see:
The satellites are built in Florida, alternately launched in Kourou (South America), Baikonur (Kazakhstan) and Vostochniy (Siberia). It doesn't get any further apart.
Transported in special RUAG containers (max. 8 satellites per container)
So far 11 of these containers have been flown to Baikonur.

The repeated changing of the launch place will never result in a continuous round-trip transportation.
A logistical nightmare.
If the rest is like that, nobody will invest.

Vonbraun · « **Reply #472 on:** 03/27/2020 07:15 pm »

Quote from: gongora on 03/27/2020 06:21 pm

If they could basically get it for the cost of completing the constellation, it could make sense for Amazon or Telesat to look into a takeover. edit: But only if they can get rid of the Intelsat entanglement.

Blue Origin is nowhere near launching their own satellites, so they would have to adopt the Oneweb bankrupt organization and their launch contracts/factories as is, while pandemic is raging in the US. This is often done with dissolved businesses which have client base and revenue, because you can cut away the rot and integrate clients into your own healthy organization. Here you have only obligations and large costs, plus you get the haste of keeping up with the application schedule.

Bezos might buy the company and null the bandwith agreement immidiately, to take advantage of the current situation where nobody else is going to re-apply for them. Their motto is the turtle, they are not going to be the rabbit suddenly.

jak Kennedy · « **Reply #473 on:** 03/27/2020 07:21 pm »

Everyone is talking about Bezos wanting the frequencies but would they also be useful for SpaceX?
And at what stage do the frequencies get put back into the pot?

RedLineTrain · « **Reply #474 on:** 03/27/2020 07:28 pm »

Quote from: jak Kennedy on 03/27/2020 07:21 pm

Everyone is talking about Bezos wanting the frequencies but would they also be useful for SpaceX?

SpaceX already has those frequencies. Arguably and theoretically, OneWeb has priority when sharing the bands. But I understand vaguely that the FCC would have to agree to this transfer at least for the US and that they would be reluctant to do so.

gongora · « **Reply #475 on:** 03/27/2020 07:34 pm »

Quote from: RedLineTrain on 03/27/2020 07:28 pm

Quote from: jak Kennedy on 03/27/2020 07:21 pm
Everyone is talking about Bezos wanting the frequencies but would they also be useful for SpaceX?

SpaceX already has those frequencies. Arguably and theoretically, OneWeb has priority when sharing the bands. But I understand vaguely that the FCC would have to agree to this transfer at least for the US and that they would be reluctant to do so.

There isn't really any restriction on OneWeb getting bought from the FCC's perspective.

TorenAltair · « **Reply #476 on:** 03/27/2020 07:37 pm »

Perhaps someone from the US/UK can enlighten me: chapter 11 protection is US law as far as I always understood, Oneweb itself is a UK company. About what part of the company are we talking here? Where is Airbus OneWeb Satellites LLC located? And doesn't have Airbus something to say then as well?

edit: grammar

ChrisWilson68 · « **Reply #477 on:** 03/27/2020 07:47 pm »

Quote from: TorenAltair on 03/27/2020 07:37 pm

One doesn't have Airbus something to say then as well?

It doesn't really matter what Airbus has to say. If Airbus wants to inject several billion dollars, they can stop the bankruptcy filing. But with the disaster facing airlines today, I doubt Airbus is going to pour large amounts of cash into OneWeb. If they were going to, they would have told OneWeb that and OneWeb wouldn't be planning a bankruptcy filing.

niwax · « **Reply #478 on:** 03/27/2020 07:51 pm »

Quote from: Vonbraun on 03/27/2020 06:00 pm

Bezos will wait for the Oneweb to dissolve and then requests the freed frequencies for himself. This way he gets more time to build his own launcher and own satellites.

The frequency allotments are conditional on certain milestones being hit. I wonder what happens when someone like Bezos challenges them and argues that the company can't reach those milestones anymore.

gongora · « **Reply #479 on:** 03/27/2020 08:19 pm »

Quote from: niwax on 03/27/2020 07:51 pm

Quote from: Vonbraun on 03/27/2020 06:00 pm
Bezos will wait for the Oneweb to dissolve and then requests the freed frequencies for himself. This way he gets more time to build his own launcher and own satellites.

The frequency allotments are conditional on certain milestones being hit. I wonder what happens when someone like Bezos challenges them and argues that the company can't reach those milestones anymore.

It's irrelevant. A bunch of companies were approved in the processing round. Most will never complete those constellations. Some will.