Telesat posts $157M Q3 loss, offers no assurances on debt repayment

Satellite operator Telesat reported CAD $81 million in Q3 revenue, down 20 percent year over year, and a net loss of $157 million versus $121 million a year earlier. The company faces more than $2 billion in debt due in December, June 2027 and October 2027 and says it cannot assure recapitalization will succeed.

• Q3 revenue fell 20 percent to CAD $81 million
• Net loss widened to $157 million from $121 million
• Over $2 billion in debt due in December and 2027
• Backlog exceeds $6 billion, plus $2 billion from Canada