Bankrupt OneWeb Seeks License For 48,000 Satellites, Even More Than SpaceX

Yesterday, SpaceX and OneWeb filed applications to launch tens of thousands of additional satellites into low Earth orbit. "SpaceX's application to launch 30,000 satellites -- in addition to the nearly 12,000 it already has permission for -- is consistent with SpaceX's previously announced plans for Starlink," reports Ars Technica. "OneWeb's application to launch nearly 48,000 satellites is surprising because the satellite-broadband company filed for bankruptcy in March." From the report: OneWeb is highly unlikely to launch a significant percentage of these satellites under its current structure, as the company reportedly "axed most of its staff" when it filed for bankruptcy and says it intends to use bankruptcy proceedings "to pursue a sale of its business in order to maximize the value of the company." Getting FCC approval to launch more satellites could improve the value of OneWeb's assets and give more options to whoever buys the company. "OneWeb has already secured debtor-in-possession financing and expects to soon exit the Chapter 11 process in a manner that maximizes the value of OneWeb's strategic assets and also ensures a viable path forward for its stakeholders and customers," the company said in its FCC application. "It's important to understand that the reason OneWeb filed for so many satellites is that it will make others' efforts more difficult, especially [for Amazon subsidiary] Kuiper, and thereby potentially enhance the value of OneWeb's first gen license. Similar rationale to SpaceX's 30K satellite proposal," satellite-industry consultant Tim Farrar wrote on Twitter. FCC rules give satellite licensees six years to launch 50 percent of licensed satellites and nine years to launch all of them, unless a waiver is granted.

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