The Chapter 11 Phoenix has risen. @OneWeb is a new company officially, and it has a new CEO in Neil Masterson, formerly the Co-Chief Operating Officer at business information provider Thomson Reuters. Previous CEO Adrián Steckel becomes an adviser. https://www.bbc.co.uk/news/science-environment-55016402

A fascinating conversation just now with Sunil Bharti Mittal, founder and chair of Bharti Enterprises. He thinks he's got the bargain of the century in his purchase of @OneWeb. "It's a very good deal. If one had to roll the dice, this is the best one."

SBM: "We will need a total of about $2bn to $2.25bn fresh money to complete this constellation." (Effectively, the old company had already spent $3.3bn getting to the point where it went into Ch11). @OneWeb

SBM: "Importantly, we have spectrum priority. In my industry, as I have experience, spectrum is most valuable. And this company is blessed with the highest priority globally on Ku spectrum." @OneWeb

He believes the model of partnering with telcos to provide connectivity is the right one, not selling direct to consumers.

SBM: "Can you imagine somebody going into rural Africa, in Congo, to find a customer in a village, whether SpaceX or OneWeb? The cost would be humongous; you just can't do it. You have to partner with the local operators." @OneWeb

SBM: "For Generation 2, we will of course have a full-scale PNT (in other words a sat-nav capability). And if the UK government wants some other payloads critical to the needs of security, we will do whatever is required." @OneWeb