Intelsat Ready for Galaxy 18 Launch

Intelsat is preparing for the launch of its Galaxy 18 satellite next week, the first of the satellite services provider's planned launches for 2008.

The spacecraft is scheduled to fly on a mission being conducted by Sea Launch. Once in orbit, Galaxy 18 will replace Galaxy 10R at 123 degrees, in the North American cable arc.

Intelsat said its other four announced satellite programs are progressing as planned.

Talk of the launch accompanied Intelsat's first quarter results.

The company reported first quarter revenue of $572.7 million and a net loss of $412.7 million. That net loss included $313.1 million in restructuring and transaction costs incurred in connection with the transaction involving Intelsat and private equity firms BC Partners Holdings, Silver Lake Partners and other investors.