Eutelsat loses out to Intelsat for Protostar

The satellite service provider, Eutlesat, has lost out on the opportunity to expand its fleet to a rival satellite service provider, Intelsat.

The two firms were up against each other in the auction for the Protostar 1 satellite.

ProtoStar Ltd, which is based in Bermuda, has applied for bankruptcy protection and selling its satellites as a way to bring in some real cash.

However, it seemed that Intelsat’s pockets were slightly deeper than Eutelsat’s on this occasion, as they paid $210 million for the satellite.

Protostar 1 had an expected life of around sixteen years when it was launched in 2008.

It was built by Space Systems Loral and is expected to be renamed Intelsat 25.

The auction of Protostar 2 is planned for December.