News Summary

• AsiaSat lost its authorization to provide satellite capacity in India.
• Broadcasters including Zee Entertainment and JioStar, part of Reliance Industries, have had to scramble for alternative capacity.
• The space industry is uniquely vulnerable to geopolitically induced force majeure for three reasons that do not apply to most other sectors.
• A single sanctions escalation can trigger cascading defaults across an entire capital structure at once.
• The U.S.-Iran conflict presents the same structural risk across the entire space value chain, but through a more complex and dangerous mechanism.