NewSat defaults on $26m in overdue Lockheed payments

By Allie Coyne on Jan 27, 2015 11:24AM

Jabiru-1 satellite build hits further hurdles.

Lockheed Martin has issued NewSat with a termination notice over a failure to make US$21 million (A$26.5 million) in payments for the construction of NewSat's Jabiru-1 satellite. NewSat has struggled to get the project off the ground since mid-last year, when it revealed funding for the ...

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