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.
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