Eutelsat reports that it has signed approximately €1 billion in Export Credit Agency (ECA) financing to fund the procurement of additional Low Earth Orbit (LEO) satellites for its OneWeb constellation.
The credit facility, provided by a syndicate of commercial banks, is backed by a €975 million French State guarantee through Bpifrance Assurance Export.
The capital will fund a recently announced contract with Airbus Defence and Space for 340 LEO satellites, adding to 100 units already on order. The satellites will be manufactured at a facility in Toulouse and are intended to replace the existing constellation members as they reach the end of their operational lifespan.
The announcement comes as shipping company CMA CGM, also a Eutelsat shareholder, begins installing OneWeb connectivity across more than 300 of its vessels to support digital operations and crew welfare.
“We are delighted to secure this crucial aspect of Eutelsat’s refinancing plan,” said Jean-Francois Fallacher, Chief Executive Officer of Eutelsat.
“We are grateful to the French State for its unwavering support. This funding significantly strengthens our financial structure and gives us the means to support the deployment of our LEO activities.”
The new satellites are scheduled for delivery beginning in late 2026, with the first-generation OneWeb units expected to start retiring as the new hardware enters service.
