Oct 29 2010

Eutelsat satellite loses, falls on the stock market

Tag: advertising, business success, different, networks, plans — admin @ 12:35 pm

Eutelsat announced Friday it lost W3B he had launched the day before, but this incident is the subject of guarantees assuring against any direct financial loss, do not question their financial goals.

In a statement, the satellite operator said the loss had occurred as a result of a malfunction in its propulsion system.

The Eutelsat has accelerated its fall Friday shortly after 12:00.

"This is clearly the loss of the satellite sends down the track," said an analyst.

Around 12:50, the title fell by 2.19%, to 26.82 euros, thus showing the second largest drop in the SBF 120, in volume three times larger than the average of 90 days.

"We will now focus our attention on delivery of the satellite W3C for entry into service (…) from the middle of next year and the implementation of a new satellite program to compensate for this loss," said group managing director, Michel de Rosen.

Eutelsat was initially announced on the night that the launch was successful.

W3B, built by Thales Alenia Space, was launched by an Ariane 5 rocket.

The Ariane 5 rocket is built by Arianespace, a company controlled notably by the European group EADS and the French Safran.

The title Eutelsat fell Friday near his lowest level in four months, but gained 19.3% since the beginning of the year, after rising about 37% in 2009.