Satellite News

Alliant Techsystems said it reached an agreement with United Space Alliance (USA) to perform subcontractor support to ATK for NASA’s Ares I launch vehicle.

Spacehab, Incorporated announced financial results for its fourth quarter and fiscal year ending 30 June 2008.

GHL Acquisition Corp. and Iridium Holdings LLC jointly announced the signing of a definitive agreement under which they plan to combine. The proceeds of the transaction will enable Iridium to be debt free and well positioned to develop its next generation satellite constellation, “Iridium NEXT.”

1worldspace announced that it has reached an agreement in principle with four debt holders to defer until 25 September 2008 the company’s obligation to pay US$19.97 million plus accrued but unpaid interest, which was payable on 15 September 2008.

The European Commission and the European Space Agency have selected 11 applicants out of the 21 applications received for the procurement procedure of the first complete constellation of the European satellite navigation system (Galileo).

According to the Aon Space Market Review Q2 2008, space insurers earned approximately US$411 million in premium for the first two quarters of 2008, putting the market in a profitable position with claims reported to be US$252 million.

TerreStar Corporation announced that it had sold its remaining 29,926,074 shares of non-voting common stock of SkyTerra Communications, Inc. for a total of approximately US$123 million in a series of transactions.

SES Astra announced the creation of a new company, Astra Broadband Services (ABBS), bundling its broadband activities.