Space is complicated. A problem with a Viasat satellite that's already in orbit can be minimized by management on the ground.
In July, it looked as if the satellite data and services provider would have to take a big write-off due to trouble with a satellite already in orbit. But it turns out that management on the ground has been able to minimize the problem, while insurance will limit the damage as well.
In July, Viasat announced that an “unexpected event” happened during the deployment of the reflector of a new communications satellite, the ViaSat-3 F1, which is also sometimes referred to as ViaSat-3 Americas. The reflector is essentially the dish-like part of a satellite that collects and focuses data streams.
Thursday, Viasat said that while the new satellite’s usefulness is compromised, the company will still be able to meet its commitments to customers. It isn’t a complete write-off; there is no need to replace the satellite. The overall business can manage through the loss.Equally positive is that a $420 million insurance check coming to the company.
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