Eutelsat lands €1 billion deal for OneWeb satellites

French satellite operator Eutelsat has secured around 1 billion euros ($1.2 billion) in export credit financing to fund the procurement of low Earth orbit satellites for its OneWeb constellation, the company announced on Wednesday.

The financing is backed by a French state guarantee and will support a contract with Airbus for the supply of 340 satellites, News.Az reports, citing Reuters.

According to Eutelsat Communications, the agreement remains subject to certain conditions, including the issuance of a bond by the company.

The funding marks a significant step in advancing the expansion of the OneWeb low Earth orbit network, which aims to strengthen global broadband connectivity.

News.Az 

By Nijat Babayev