Telesat buys SpaceX launches for Lightspeed internet satellites
Publishing timestamp: 2023-09-11 10:51:49
Summary
Elon Musk's SpaceX has signed a deal with satellite operator Telesat to launch 14 missions of Telesat's Lightspeed internet satellites using SpaceX's Falcon 9 rocket. The financial terms of the deal were not disclosed, but Telesat's purchase is estimated to be around $900 million. Telesat also has an agreement with Jeff Bezos' Blue Origin, but delays in the development of Blue Origin's New Glenn rocket have led Telesat to seek alternative launch options. Telesat's Lightspeed satellites are not intended to compete with SpaceX's Starlink or Amazon's Kuiper in the direct-to-consumer market, but rather focus on enterprise and government customers.
Sentiment: NEUTRAL
Tickers: SATS, TSAT-CA, AMZN, VSAT,
Keywords: technology, business, transportation, elon musk, breaking news: technology, telesat corp, echostar corp, viasat inc, breaking news: business, amazon.com inc, the edge, business news, jeff bezos, spacex, space industry, aerospace and defense industry,
Source: https://www.cnbc.com/2023/09/11/telesat-buys-spacex-launches-for-lightspeed-internet-satellites.html