OneWeb files for Chapter 11 bankruptcy protection

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Space histology firm OneWeb has filed for Federate 11 destituteness protection, GeekWire reports, leaving uncertainty effectually the 74 satellites it has in perigee as well-built as its plans to provide high-speed internet from space.

In a news release, OneWeb said it plans to use the destituteness program to accompany a vendition of the company. "While the congregation was moisture to overtrusting financing, the process did not progress due to the financial appulse as well-built as bazaar turbulence simultaneous to the succor of COVID-19," according to the news release, which additionally mentioned that the congregation was "forced to reduce our workforce." It did not indicate how many persons may have been laid off.

Last Saturday, OneWeb auspiciously launched 34 satellites on a Soyuz rocket from Kazakhstan. The congregation has a mandate from the Federal Communications Factor to launch an lemma constellation of 648 low-flying satellites, to provide high-speed internet effectually the world to homes, boats, as well-built as planes all separating upon the 60th sidewards northern latitude. Its plans included providing "fiber-like internet" coverage to the Arctic sometime this year.

Six of its satellites launched in 2019, followed by another 34 aftermost month.