Intelsat Americas™-7 Investigation Underway; IA-8 Launch Temporarily On Hold
Pembroke, Bermuda, 10 December 2004
Intelsat today announced that 22 transponders on the Intelsat-Americas™-7 satellite have been tested, are performing normally and are available to be put back into service. Already, several of these transponders are being used to provide service to Intelsat customers. Intelsat continues to work closely with Space Systems/Loral to determine and fully analyze the cause of last week's anomaly, though the complexity of the event means it may take several months to deliver a final report.
Until the IA-7 investigation report is completed, Intelsat has temporarily delayed the launch of its IA-8 satellite. Intelsat CEO Conny Kullman, stated, "In order to continue upholding the highest standards in satellite operations, and in the interest of providing the best possible service for our customers, we have decided to delay the IA-8 launch until we receive the results of the IA-7 anomaly investigation. In the meantime, we remain committed to providing high-quality service across all satellites in the Intelsat fleet."
Given the current condition of IA-7, Zeus Holdings Limited, Intelsat's prospective acquirer, would have the option not to consummate the acquisition of Intelsat if the loss is not remedied in accordance with the terms of the agreement with Zeus. Zeus has been advised of Intelsat's decision to delay the launch of IA-8 and continues to evaluate the extent to which the IA-7 anomaly and the IA-8 launch delay could impact the pending acquisition.
Pembroke, Bermuda, 10 December 2004
Intelsat today announced that 22 transponders on the Intelsat-Americas™-7 satellite have been tested, are performing normally and are available to be put back into service. Already, several of these transponders are being used to provide service to Intelsat customers. Intelsat continues to work closely with Space Systems/Loral to determine and fully analyze the cause of last week's anomaly, though the complexity of the event means it may take several months to deliver a final report.
Until the IA-7 investigation report is completed, Intelsat has temporarily delayed the launch of its IA-8 satellite. Intelsat CEO Conny Kullman, stated, "In order to continue upholding the highest standards in satellite operations, and in the interest of providing the best possible service for our customers, we have decided to delay the IA-8 launch until we receive the results of the IA-7 anomaly investigation. In the meantime, we remain committed to providing high-quality service across all satellites in the Intelsat fleet."
Given the current condition of IA-7, Zeus Holdings Limited, Intelsat's prospective acquirer, would have the option not to consummate the acquisition of Intelsat if the loss is not remedied in accordance with the terms of the agreement with Zeus. Zeus has been advised of Intelsat's decision to delay the launch of IA-8 and continues to evaluate the extent to which the IA-7 anomaly and the IA-8 launch delay could impact the pending acquisition.
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