Tuesday, October 3, 2006

Connexion by Boeing Makes Final Payment to SES AMERICOM

As a result of its decision to terminate the "Connexion by Boeing" service, Boeing has made payment of $70 million to SES AMERICOM relating to termination of the AMC-23 satellite contract.

http://www.ses-global.com

  • In August 2006, Boeing decided to exit the in-flight broadband market and will shut down its "Connexion by Boeing" service over the coming months. The company will take a pre-tax charge of up to $320 million, or $0.26 per share, in the second half of 2006, for write downs of the network assets, payments of early termination fees to airlines, and other costs related to shutting down the service.

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