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Satnews Daily
January 18th, 2012

Telesat... Insurance Payoff (Satellite)



Artistic rendition of the Telstar-14R satellite.

Telesat company information

[SatNews] A payment in the sum of $132.7 million has been received by...

....Telesat for their partial loss claim filed when the solar array of the Company's Telstar 14R/Estrela do Sul-2 satellite failed to deploy. The payment by insurance underwriters was received by the Company last December. Additionally, because space flight for the craft was made more challenging as one of the solar arrays did not deploy correctly, fuel consumption is now a problem for the satellite. This has resulted in a reduction of service life from 15 years down to 12 years. No dividend recapitalization is expected by either Telesat or Loral.