UK’s OneWeb resumes satellite production after bankruptcy

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OneWeb planned to launch up to 672 satellites into low Earth orbit with the vision to provide broadband internet access to the entire world’s surface.

The United Kingdom’s communications company OneWeb, which had been bought out of bankruptcy by the British government and an Indian telecom provider, confirmed on Friday resuming satellite production.

“Yes – satellite production is underway!” the company replied to a Twitter user.

In 2015, the company penned a contract with Roscosmos through European aerospace company Arianespace to carry out 21 launches to deliver all the satellites into space. In late March, OneWeb filed for Chapter 11 bankruptcy in a New York state court after launching just 74 satellites.

The UK government and Indian mobile network operator Bharti Global have since agreed to pay $1 billion to acquire OneWeb and fund the restart of its projects.

Source: RIA Novosti

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