
OneWeb files for Chapter 11 bankruptcy protection - AYBABTME
https://www.theverge.com/2020/3/28/21189404/oneweb-chapter-11-bankruptcy-space
======
AYBABTME
I'm not sure what this means, they launched a set of satellite last Saturday
and then they file for bankruptcy? Is it because SoftBank is pulling out due
to the pandemic? Is the overall project going yo survive in some shape or
form?

A rather sad outcome, I hope Amazon Kuiper will materialize so that there's
some competition for SpaceX's Starlink. I think having more than one player in
this space has been important in ensuring that _any_ of these constellation
will come to fruition.

~~~
wmf
They need ~600 satellites in orbit to start offering service but they have
only launched 74 so far. It sounds like a very risky business model to start
launching before they had all the capital, but there are rumors that Softbank
withdrew some pledged capital.

