in ,

Inmarsat to Purchase Boeing Satellite for $250M

Inmarsat to Purchase Boeing Satellite for $250M - top government contractors - best government contracting event
https://executivebiz-media.s3.amazonaws.com/2022/08/19/30/9f/c3/a0/b7/6f/d4/64/Executive-Biz.png

satellite airforceInmarsat Plc has exercised an option to purchase a satellite from Boeing for between $220 million and $250 million, intending to reserve a spare satellite in case of launch failure.

The British satellite telecommunications firm will buy the spare satellite to help complete its Global Xpress service launch on time should any of the first three Inmarsat-5 satellites fail, the company said Monday.

GX is intended to fulfill customers“™ demands and delivery requirements for a global network.

Inmarsat is establishing another business that will use the fourth satellite to expand network coverage if it is not needed as a spare.

The company plans to compensate the costs of building and launching the spare satellite with insurance proceeds from any launch failure, intending to neutralize the impact on total capital expenditure for the period up to 2016.

ExecutiveBiz Logo

Sign Up Now! ExecutiveBiz provides you with Daily Updates and News Briefings about C4ISR News

mm

Written by Jay Clemens

Raytheon Tests Navy Missile's Multi-Mode Seeker - top government contractors - best government contracting event
Raytheon Tests Navy Missile’s Multi-Mode Seeker
Unisys Launches Cloud Computing Infrastructure; Ed Coleman Comments - top government contractors - best government contracting event
Unisys Launches Cloud Computing Infrastructure; Ed Coleman Comments