Thursday, December 9, 2004

Intelsat Delays Launch of Intelsat-Americas-8, Pending IA-7 Review

Intelsat reported 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 has temporarily delayed the launch of its IA-8 satellite pending the on-going investigation into the anomalies experienced this month with IA-7. The company said it is working closely with Space Systems/Loral to determine and fully analyze the cause of the anomaly, though the complexity of the event means it may take several months to deliver a final report.

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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