Sabbagh refutes damaging FT story
On Sept 22 the influential Financial Times published a piece that – in so many words – spelled ‘doom and gloom’ for the satellite industry as a whole, and suggesting that the “golden age” for satellite operators was well and truly over. The article linked the recent explosion at the SpaceX as “heightening a sense of dread across the industry” and that the satellite industry was in a similar position to that of the infamous ‘dot-com’ bubble of the late 1990’s.
The article propelled an immediate slump in the share prices of most of the major industry players. Eutelsat of Paris has fallen from €18.19 to €17.60 since the report. SES of Luxembourg has fallen back from €22.16 to €21.25 over the same period. London-based Inmarsat also suffered, dropping from 707p to 664p, although recovered 8% on Sept 27 to 688p.
Karim Michel Sabbagh, CEO at SES, issued a strong counter-argument Sept 27 to the what he described as an “oversupply” of [industry over-capacity] stories, and argues: “Maybe it is time to step back and think through some important questions.”
Robotic sat-servicing “ready to move forward”
Delegates to the American Institute of Aeronautics & Astronautics (AIAA) conference at Long Beach, California, heard considerable enthusiasm from speakers about the prospects for ‘Space Tugs’ and satellite Mission Extension Vehicles (MEVs).
Steve Oldham, SVP/strategic business development at Space Systems/Loral (SS/L) told delegates that the various technical, regulatory and financial challenges were being solved