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TL;DR

Intelsat’s 2024 was defined by the catastrophic loss of Intelsat 33e on 2024, October 02, triggering a 100.9 million impairment, an 8 percent slide in core on-network revenue and a 27 million drop in in-flight connectivity earnings.

By 2024, December 31 the company had recorded 391.6 million in total write-downs, seen operating cash flow plunge from 3.8 billion to 825 million, distributed 611 million to shareholders and agreed to a 2.6 billion takeover by SES.

Intelsat 2024: Lost in (Financial) Space

Where billion-dollar write-offs, disappearing satellites, and high-stakes corporate karaoke make for one interstellar farewell tour

Once considered a crown jewel in the satellite communications industry, Intelsat’s 2024 annual report reads less like a declaration of market dominance and more like the financial equivalent of a season finale nobody asked for. The company, once responsible for beaming television to millions and connecting the world’s airlines and militaries, now seems more focused on distributing cash, counting write-downs, and getting prettied up for an acquisition by SES S.A. This is a fiscal firework show with a ‘for sale’ sign glowing in the debris.

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