Aireon secures USD 200m credit facility with Deutsche Bank

Virginia, US-based Aireon LLC has announced it has signed a USD 200 million credit facility agreement with several independent investor funds, led by Deutsche Bank, the company said.

This credit facility provides Aireon with the resources to fund various company initiatives and to continue to pay Iridium for the costs related to the integration, launch and hosting of the AireonSM payload on each of the 81 Iridium® NEXT satellites.

The Aireon system is scheduled to go live in the first quarter of 2019, beginning with operational trials over the North Atlantic Ocean with the Canadian and British Air Navigation Service Providers (ANSPs), NAV CANADA and NATS.

Aireon LLC has deployed a space-based air traffic surveillance system for Automatic Dependent Surveillance-Broadcast (ADS-B) equipped aircraft throughout the entire globe.