Eutelsat secures €1 billion funding for OneWeb satellites

• The €1 billion financing is backed by a French state guarantee, providing government support for the satellite expansion
• Funding will finance an Airbus contract for 340 low Earth orbit satellites to expand the OneWeb constellation
• The financing is conditional on Eutelsat Communications completing a bond issuance

Eutelsat Secures €1 Billion Funding for OneWeb Satellites

Key Transaction Details:

Eutelsat Group has obtained approximately €1 billion ($1.2 billion) in export credit financing to expand its OneWeb low Earth orbit (LEO) satellite constellation. The financing package is backed by a French state guarantee, providing favorable terms for the expansion initiative.

Contract and Deployment:

The funds will support a procurement contract with Airbus for 340 satellites, significantly bolstering OneWeb's LEO constellation. The financing arrangement is subject to certain conditions, including a bond issuance by Eutelsat Communications.

Companies and Sectors Involved:

• Eutelsat Group: The satellite operator securing financing for constellation expansion
• Airbus: Contracted satellite manufacturer for the 340-unit order
• French government: Providing state guarantee backing for the export credit facility

Market Implications:

This substantial investment underscores the intensifying competition in the LEO satellite communications market, where companies are racing to deploy large constellations for global broadband coverage. The French state backing demonstrates government support for strategic space infrastructure and domestic aerospace industry development.

The financing structure through export credits with state guarantees provides Eutelsat with cost-effective capital access while supporting Airbus's satellite manufacturing business. This transaction strengthens Eutelsat's position in the competitive LEO market, where it competes with players like SpaceX's Starlink and Amazon's Project Kuiper.

The announcement, made February 11, 2025, represents a significant capital commitment to satellite infrastructure expansion and signals continued growth in the commercial space sector.