Failure of ABS-2 beam may result in insurance claim of $214 million

by Clayton Vallabhan | October 20th, 2014

It has emerged that the failure of a Russian-directed satellite beam from ABS-2 may result in an insurance claim of nearly $214 million.

According to sources the beam is being affected to varying degrees, and has suffered an unexplainable anomaly. The Russian beam is partially owned by GT Satellite, which signed a booking of a large section of the Russian beam at $125 million in 2011.

ABS-2 operates at 75 degrees East. There have been no official comments on the status of proceedings.

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