The nails continue to be hammered into NewSat’s coffin. Another asset, its launch spot with Arianespace, is gone.
Adrian Ballantine’s dream – lately a nightmare – is over. The flamboyant entrepreneur has been shown the door at NewSat, the company he founded.
Australia’s only would-be commercial satellite operator has hit the wall and been placed into administration after it was revealed that French Government-owned creditor COFACE has withdrawn a major portion of the funding for the US$650 million project to put the Jabiru-1 satellite into space.
Another credit card to rip off customers. Good one Coles!
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