Market Intelligence·May 19, 2026·7 min read
What the Intelsat Bankruptcy Revealed About Orbital Real Estate
On May 13, 2020, Intelsat filed for Chapter 11 with $14.8 billion in debt. Through two years of restructuring, its orbital slot portfolio emerged intact. SES acquired it for $3.1 billion in 2025. The sequence reveals something fundamental about what makes these positions valuable, and what Clarke is built to price.
