Huge order for Iridium spacecraft

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The mobile satellite services provider Iridium has ordered 81 spacecraft to upgrade its global network. Thales Alenia Space of France will build the satellites – 66 to form the operational constellation, the remainder to act as spares. The order makes the Iridium Next venture the biggest commercial space project in the world today.

The $2.1bn deal has largely been underwritten by the French export credit guarantee organisation, Coface. The overall cost of the Iridium Next project is likely to be about $2.9bn, much of which the company expects to finance out of its own cash flow. Full story:

Full story: BBC News – Huge order for Iridium spacecraft