Satcom service provider Speedcast has announced that it has signed a new contract with satellite operator Intelsat, the single largest creditor listed in its Chapter 11 bankruptcy filing in April, as it looks to move forward with its restructuring and cement renewed relationships with its key suppliers.
Under the new multi-year contract, Speedcast will continue to have access to Intelsat’s global fleet of satellites to support customer operations across the energy, maritime, cruise, mining, enterprise, media, humanitarian, and government sectors.
“This new agreement will offer us the flexibility and global scale we need to best support our customers,” said Peter Shaper, Chief Executive Officer at Speedcast.
“As we navigate the near-term headwinds stemming from the global COVID-19 pandemic and work toward finalising our recapitalisation process, it is critical that we find opportunities to reassess our overall bandwidth purchasing to better support our network, while also allowing us to help our customers through these unprecedented times.”
“We look forward to expanding our use of the Intelsat network, and further transforming our business.”
The agreement was approved by the US courts overseeing the financial restructuring cases for both Speedcast and Intelsat, which announced its own Chapter 11 bankruptcy less than a month after Speedcast began the process.
Speedcast has partnerships in place with more than 20 satellite fleet operators, including Intelsat, for C-, Ku-, Ka-, L-, and X-band capacity. Its global network includes access to more than 200 beams across more than 100 satellites, totalling 16GHz of satellite capacity.
