Arianespace earns profit in 2003
Posted: Tue, Jan 6, 2004, 2:56 PM ET (1956 GMT)
European launch services company Arianespace earned a profit in 2003 after major losses in recent years, the company's CEO said Tuesday. Jean-Yves Le Gall, speaking to reporters in Paris, said the company made a profit in 2003 despite revenues of only €550 million (US$705 million), barely one-third the level of the previous year. Le Gall credited cost-cutting measures for the profit, although neither Le Gall nor a company press release issued Tuesday disclosed the size of the profit. The company had recorded losses of nearly €200 million (US$255 million) in the last few years as commercial launch demand declined and as the company retired the Ariane 4 booster in favor of the larger, but troubled, Ariane 5. Arianespace also announced Tuesday two new launch contracts with Japanese satellite operator JSAT, one of which will be for the JCSAT-9 satellite scheduled for launch in 2005. Arianespace is planning between four and six Ariane 5 launches in 2004, starting with the launch of ESA’s Rosetta comet mission on February 26. The more powerful Ariane 5 ECA, which failed on its first flight in December 2002, is scheduled to return to service in mid-2004 with a demonstration launch that will carry the XTAR communications satellite and a test payload.
European launch services company Arianespace earned a profit in 2003 after major losses in recent years, the company's CEO said Tuesday. Jean-Yves Le Gall, speaking to reporters in Paris, said the company made a profit in 2003 despite revenues of only €550 million (US$705 million), barely one-third the level of the previous year. Le Gall credited cost-cutting measures for the profit, although neither Le Gall nor a company press release issued Tuesday disclosed the size of the profit. The company had recorded losses of nearly €200 million (US$255 million) in the last few years as commercial launch demand declined and as the company retired the Ariane 4 booster in favor of the larger, but troubled, Ariane 5. Arianespace also announced Tuesday two new launch contracts with Japanese satellite operator JSAT, one of which will be for the JCSAT-9 satellite scheduled for launch in 2005. Arianespace is planning between four and six Ariane 5 launches in 2004, starting with the launch of ESA’s Rosetta comet mission on February 26. The more powerful Ariane 5 ECA, which failed on its first flight in December 2002, is scheduled to return to service in mid-2004 with a demonstration launch that will carry the XTAR communications satellite and a test payload.
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