US bankruptcy
p. 29 · Read in the full issue
South Pacific Iridium in good form despite US bankruptcy
THE South Pacific arm of the satellite telephone consortium Iridium has reassured southern cus tomers it would be business as usual following the financial restructure of its US-based operations.
Iridium LLC, in Washington, announced mid-August it would pursue a comprehensive financial restructure through a voluntary Chapter 11 filing in the US Bankruptcy Court in Delaware.
But a statement issued by Iridium South Pacific said it was an indepen dent Australian telecommunications carrier majority-owned by Japanese electronics and telecommunications giants DDI Corporation and Kyocera
Corporation and traded separately from Iridium LLC.
“While we are confident Iridium LLC will successfully restructure in the US, in reality it has no operational impact on Iridium South Pacific,” the company’s chief executive officer Carl ton lennings said. “We will continue to
provide excellent and uninterrupted
global service to our customers.”
Jennings said the South Pacific busi ness was robust and had grown signifi
cantly since it implemented sharpened
value for customers through simplified satellite call and equipment pricing on July 1. Iridium phones are especially popular for mining and agricultural industries. (AAP) ■