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Eutelsat said it is in discussion with the European government about providing additional satellite connectivity in Ukraine as investors bet that French satellite operators can replace the national Elon Musk Starlink.
Eutelsat, owner of Starlink rival OneWeb, said on Tuesday that it is “actively working with European institutions and business partners,” adding that “it could be quickly deployed in Ukraine to connect its most important missions and infrastructure.”
Ukraine has relied heavily on Starlink’s military campaign as it has played a key role in improving communications on the battlefield, but there is fear that this could be threatened after the US suspended military aid to Kiev on Monday.
Eutelsat’s shares rose 123% to 4.50 euros before easing to ease 70% trading.
The shares are well below the 10 euros they were trading before Eutelsat announced its acquisition of OneWeb in 2022.
US officials have raised the possibility of reducing Ukraine’s access to Starlink’s satellite system, Reuters reported last week. Musk, the owner of Starlink billionaire and the key adviser to US President Donald Trump, tweeted that the story was wrong.
Eutelsat said consultations with the European government focused on using a combination of satellite constellations. It said it focuses on strengthening satellite connections between the Earth’s one weed, 35,000 km, between the 35,000 km of Geo satellite – Ukraine and the Black Sea region.
Both can provide connectivity to Ukrainian drones that have seriously damaged Russian troops. Some military experts believe that a large concentration of Russian troops and tanks will be destroyed by Ukrainian drone attacks.
On Tuesday, the EU proposed a 150 billion euro package in loans to the capital for defence procurement. European Commission President Ursula von der Leyen said the move could promote “immediate military equipment for Ukraine.”
Eutelsat said: “The timing of deploying additional user devices for critical missions and infrastructure depends on the procurement decisions by European countries and the coordination of the infrastructure required.”
OneWeb already serves Ukraine through its German distributors, but its technology is older than Starlink. Starlink has over 7,000 satellites in orbit, while OneWeb is under 700.
OneWeb devices designed for business and government use rather than residential customers are also larger and less portable than Starlink.
Jan Frederik Slijkerman, senior credit strategist in communications and media at ING, said Eutelsat’s prospects to provide more satellite capabilities in Ukraine underscored the “importance of European defence capabilities.”
Eutelsat said the extent to which its satellite can complement Ukraine’s existing military communications depends on specific operational requirements, security protocols and integration with existing systems.
