Maxar to receive full payout for WorldView-4

By on 6 May, 2019

Company to receive $US183 million for loss of its key imaging satellite.

Insurance companies have accepted Maxar Technologies’ claim for the loss of its WorldView-4 earth observation satellite after a failure of its control movement gyroscope system rendered it inoperable in January.

The satellite’s loss was a devastating blow for the company, already carrying a $US 3 billion debt load, which unified brands DigitalGlobe, SSL and Radiant Solutions under the Maxar brands in February.

A statement released by Maxar indicates that they anticipate payment within 30 days, and it will reinvest the funds into ‘pre-existing capital priorities’, including completion of its WorldView Legion constellation of small satellites, which was originally commissioned to replace the three oldest satellites in its constellation.

Stay up to date by getting stories like this delivered to your mailbox.
Sign up to receive our free weekly Spatial Source newsletter.

You may also like to read:


, , , , , ,


Newsletter

Sign up now to stay up to date about all the news from Spatial Source. You will get a newsletter every week with the latest news.

Q&A with Rod Bryant
Dive deep into absolute positioning for autonomous transport...
Altus NR3 lightweight GNSS receiver now available
Septentrio has launched its lightweight Altus NR3 receiver, ...
Students invited to get creative with drone designs
The Design A Drone competition is back, with six DJI Tellos ...
Position 101 out now
An inside peek at Position magazine issue 101, hot off the p...
Engineer honoured for autonomous navigation research
Professor Michael Milford is recognised for pioneering work....
Nearmap’s new product accelerates access to 3D imagery
Nearmap launches its streaming 3D offering at Navig8 events ...