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Matt Desch: Iridium Moves to Secure Next Satellites with Spares, Insurance, Free Reflights

Matt Desch
Matt Desch

TYSONS CORNER, VA June 15, 2015 — Executive Mosaic — Iridium Communications (Nasdaq: IRDM) CEO Matt Desch indicated that the nine spare Iridium Next satellites the company is building will help cut insurance coverage costs for the 72 others due for launch by 2017.

Space News reported Thursday the executive telling investors on June 10 that talks with underwriters are underway as part of Iridium’s bid to secure the satellites.

While the inaugural launch of the second-generation constellation could occur “in October or shortly thereafter, ” the plan to put all 72 into orbit in two years remains on track, added Desch, an inductee into Executive Mosaic‘s Wash100 to 2015.

He said SpaceX also offers free reflights in event of a launch failure.

About Executive Mosaic: Founded in 2002, Executive Mosaic is a leadership organization and media company. It provides its members an opportunity to learn from peer business executives and government thought leaders while providing an interactive forum to develop key business and partnering relationships. Executive Mosaic offers highly coveted executive events, breaking business news on the Government Contracting industry, and delivers robust and reliable content through seven influential websites and four consequential E-newswires. Executive Mosaic is headquartered in Tysons Corner, VA. www.executivemosaic.com

Contact:
David Smith
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david.smith@executivemosaic.com

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