Terran Orbital Customer Rivada Meets Rigorous Review For International Telecommunications Union Waiver To Deploy Constellation; U.N. Regulator Finds Rivada Meets Criteria To Launch Satellite Constellations Beginning 2026
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Terran Orbital Corporation (NYSE:LLAP) congratulated its customer Rivada Space Networks for receiving a waiver from the International Telecommunications Union (ITU). The waiver allows Rivada to delay the launch of the first 10% of its planned satellite constellation until 2026. This is also a significant milestone for Terran Orbital, as it allows the company to continue the development and manufacture of its first tranche of satellites for Rivada under a $2.4 billion contract.
July 06, 2023 | 1:54 pm
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The ITU waiver received by Rivada allows Terran Orbital to continue its $2.4 billion contract for the development and manufacture of satellites. This could potentially boost Terran Orbital's revenues and profitability in the short term.
The ITU waiver allows Rivada to delay the launch of its satellite constellation, which in turn allows Terran Orbital to continue its contract for the development and manufacture of satellites for Rivada. This contract, worth $2.4 billion, is a significant source of revenue for Terran Orbital and its continuation could potentially boost the company's revenues and profitability in the short term.
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