OneWeb Ground Network Behind Schedule, Eutelsat Says

Eutelsat expects revenue growth in its geostationary orbit business during fiscal year 2023-2024, thanks to Eutelsat 10B and Konnect VHTS satellites entering service, it told investors Monday. But non-geostationary orbit revenue is lagging projections, it said. While OneWeb has 100% of its satellites in place and a backlog of $1.1 billion at the end of last quarter, availability of the ground network is delayed, it said. That delay affects revenue, particularly in mobility and certain geographies, Eutelsat said. In addition, it said, the ground network should be 90% complete in Q2 2024.