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Intelsat swings to $218.8m loss

June 5, 2020 13.16 Europe/London By Julian Clover

Satellite operator Intelsat says it hasn’t been immune to the effects of Covid 19.

Reporting its first financial figures since it entered Chapter 11, Intelsat’s Chief Executive Officer, Stephen Spengler said it had seen disruption to its due to the decline in its networks business and in media through a drop in demand for “occasional use” services for sporting events and concerts.

Networks, which fell by 27%, was particularly hit through the combination of lower renewal rates and two ‘unusual items’. Media faired better with a 9% year-on-year decrease.

Intelsat maintains a fill rate of 78%.

The company reported total revenue of $458.8 million and a net loss of $218.8 million.

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Filed Under: Newsline, Satellite Tagged With: intelsat Edited: June 5, 2020 13:44

About Julian Clover

Julian Clover is a Media and Technology journalist based in Cambridge, UK. He works in online and printed media. Julian is also a voice on local radio. You can talk to Julian on Twitter @julianclover, on Facebook or by email at jclover@broadbandtvnews.com.

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