Telesat

Telesat adds 500 MHz of military Ka-band capacity to the initial 156 Lightspeed satellites without changing the first-launch target. Management says the first two production satellites are still planned for late 2026, but full global commercial service has slipped to around the end of Q1 2028 because of ASIC readiness.

Telesat signs a substantial multi-year Lightspeed services agreement with Viasat, announces a strategic Canadian military satcom partnership with the Government of Canada and MDA Space, distributes 62% of the Lightspeed business to an indirect subsidiary, and ends the year with about CAD $1.0 billion of LEO backlog.

Completes CAD $2.54B in government funding agreements — CAD $2.14B from the Government of Canada and CAD $400M from Quebec — covering over 50% of the $3.5B program cost.

Telesat selects MDA as prime contractor for a redesigned 198-satellite Lightspeed constellation, cuts expected capital cost by roughly US$2 billion versus the prior plan, and says the program is funded through global service delivery.

Launches a pathfinder test satellite to validate LEO constellation technology, including optical inter-satellite links and Ka-band connectivity.

Telesat announces plans for a LEO broadband constellation, initially envisioned as 120 satellites. The program would later grow to 298 before being optimized to 198 satellites.

Telesat Canada is established as a Crown corporation to operate Canada's domestic satellite communications system — one of the world's first national satellite operators.