OneWeb has announced bankruptcy

OneWeb объявила о банкротстве

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British startup company OneWeb filed for bankruptcy and reorganization court in bankruptcy for the southern district of new York. A statement published on Friday on the website of the company.

“The company and some of her controlled affiliates voluntarily filed a petition for refund in accordance with Chapter 11 of the U.S. Code bankruptcy court bankruptcy southern district of new York state”, — stated in the message.

In OneWeb said that the last time the company was in talks on attracting investment have failed because of the deteriorating world economic situation in connection with the pandemic of the novel coronavirus. CEO Adrian Stekel also confirmed the information about dismissal of some employees in connection with the situation.

27 March the Financial Times reported, citing familiar with the situation source what OneWeb can declare bankruptcy and the dismissal of most employees before the end of the day. According to her, the company failed to reach agreement with the Japanese holding company Softbank (“Softbank”) to attract additional funds in the amount of $ 2 billion. OneWeb has previously managed to attract investments totaling $ 3.4 billion.

OneWeb, the first of six satellites was launched from Kourou cosmodrome rocket “Soyuz-ST” February 28, 2019, the same day they were brought into orbit. It was assumed that OneWeb will orbit about 600 satellites and will begin commercial use in 2020. By 2021 OneWeb was to provide 24-hour coverage of the Earth connection. The company had to withdraw to low earth orbit 74 of the apparatus.

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