Overview
- Telesat will dedicate 500 MHz of Military Ka‑band across the first 156 Lightspeed satellites, replacing the same amount of commercial Ka on user links with an expected cost of about $25 million and no stated schedule impact.
- Because Mil‑Ka sits adjacent to commercial Ka, gateway plans are unchanged, user‑terminal integration is expected to be straightforward, and the change still requires approvals from Canada and the ITU.
- Management now guides to first launches in December 2026 and roughly 96 satellites in orbit by end‑2027, with full global commercial service shifting to the end of Q1 2028 due to ASIC readiness from SatixFy/MDA.
- Telesat is pursuing government business through vehicles such as the U.S. SHIELD IDIQ tied to Golden Dome, a Canadian Arctic MILSATCOM effort with MDA, and a defense collaboration with Hanwha Systems.
- The company reported continued GEO revenue pressure, outlined significant near‑term debt maturities and active refinancing talks, and saw its shares jump nearly 20% on the TSX as creditors pursued a disputed U.S. lawsuit over an alleged LEO equity transfer.