Eutelsat expects $11 billion revenue after EU’s Starlink rival comes online

Eutelsat expects commercial services revenue of more than €10 billion ($11.1 billion) between 2032 and 2040 as it takes a leading role in the European Union’s planned alternative to Elon Musk’s Starlink satellite internet service, it said on Thursday.

The Franco-British operator had been chosen to lead the low Earth orbit (LEO) segment of the EU’s IRIS² network that will feature 330 satellites. The first IRIS² satellites are scheduled for launch in 2029, with ​initial services expected from 2030.