OneWeb Successfully Emerges From Chapter 11, Announces New CEO And Recommences Satellite Launches - Seite 2

"Together with our UK Government partner, we recognised that OneWeb has valuable global spectrum with priority rights, and we benefit from $3.3bn invested to-date and from the satellites already in orbit, securing our usage rights. I would like to thank Adrian Steckel for his valued contribution."

Sunil Bharti Mittal continues: "These are exciting times and the world now has a LEO alternative to work with. We look forward to partnering with those equally determined to enter this new Space Age. There is unmet demand around the globe for broadband connectivity and we intend to continue OneWeb's social mission. We will use our joint venture facility to drive down cost of service, opening new use cases for low latency broadband provision."

UK Secretary of State for Business, Energy and Industrial Strategy Alok Sharma said:  "This strategic investment demonstrates Government's commitment to the UK's space sector in the long-term and our ambition to put Britain at the cutting edge of the latest advances in space technology. 

"Access to our own global fleet of satellites has the potential to connect people worldwide, providing fast UK-backed broadband from the Shetlands to the Sahara and from Pole to Pole.  

"This deal gives us the chance to build on our strong advanced manufacturing and services base in the UK, creating jobs and technical expertise." 

OneWeb also announces the target date of 17^th December 2020 for its Return to Flight, with a 36-satellite payload scheduled for launch by Arianespace from the Vostochny Cosmodrome. All the satellites have been shipped from Florida to Vostochny and are now undergoing preparation for launch.

Due to investment decisions made by the new shareholders, the joint venture facility with Airbus in Florida, USA was re-activated and the dual production lines brought back into service.

Launches will continue throughout 2021 and 2022 and OneWeb is now on track to begin commercial connectivity services to the UK and the Arctic region in late 2021 and will expand to delivering global services in 2022.

Notes to editors  

• Neil Masterson has extensive experience as a senior executive in a global, multibillion-dollar digital, business information, content, and technology business.
• He previously spent twenty years working at Thomson Reuters in a variety of senior roles across the multi-platform business. In his most recent role as co-COO, he chaired Thomson Reuters Operating Committee, which was responsible for the company's $6 billion revenue and twenty thousand members of staff.
• He was also responsible for the strategic direction and overall business performance of Thomson Reuters, including marketing, digital, commercial operations, technology, cyber, and content functions.
• He is currently based in New York and will be returning to the UK following his appointment.

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