In an interview released Thursday, March 19, 2026, Eutelsat Group CEO Eva Berneke detailed the company’s ongoing transformation from a traditional video-centric Geostationary (GEO) operator into a vertically integrated, multi-orbit connectivity powerhouse.
Central to this shift is the full integration of the OneWeb Low Earth Orbit (LEO) constellation and the high-stakes development of its second-generation (Gen 2) network.
The strategy marks a definitive response to the “Sovereign Constellations and Strategic Autonomy” trend, positioning Eutelsat as the primary European counterweight to American LEO dominance.
Financial Restructuring and CAPEX Intensity
To fund this transition, Eutelsat has executed a massive €5 billion refinancing package, finalized in February 2026. The company is now operating at a sustained capital expenditure (CAPEX) rate of approximately €1 billion annually. This investment is heavily weighted toward the OneWeb Gen 2 constellation, which requires significant upfront spending on satellite manufacturing and ground infrastructure before generating mid-term returns.
The financial pivot follows a record-breaking 2025 where Eutelsat’s connectivity revenue surpassed its traditional broadcast revenue for the first time, signaling the end of the “Video-First” era for the Paris-based operator.
OneWeb Gen 2: The Push for Technical Parity
OneWeb Gen 2 is designed to address the capacity limitations of the first-generation fleet. While Gen 1 established global coverage, Gen 2 will introduce:
- Higher Throughput: Targeted 10x increase in usable capacity per satellite.
- On-Board Processing: Advanced digital payloads for flexible beam hopping and dynamic bandwidth allocation.
- Intersatellite Links (ISL): Standardized laser links to reduce reliance on local ground stations and lower latency for trans-oceanic routes.
Sovereign Demand and the IRIS² Anchor
Eutelsat’s positioning is deeply intertwined with the European Union’s IRIS² (Infrastructure for Resilience, Interconnectivity and Security by Satellite) program. As a key member of the SpaceRISE consortium, Eutelsat is leveraging OneWeb’s LEO heritage to fulfill sovereign requirements for secure government communications.
The rationale is clear: European governments are increasingly wary of relying on non-EU entities for critical infrastructure. By offering a “Sovereign LEO” alternative, Eutelsat secures long-term, high-value government contracts that are less susceptible to the price wars currently seen in the commercial B2C broadband market.
“Our focus is not on competing for every residential consumer, but on being the trusted partner for enterprises and governments that require a multi-orbit, resilient, and European-governed network,” said Eva Berneke, CEO of Eutelsat Group.
Connectivity-as-a-Service by 2028
The company anticipates that OneWeb Gen 2 will reach initial operational capability by 2028. In the interim, Eutelsat is focused on cross-selling its GEO/LEO hybrid services to maritime, aviation, and telco backhaul customers.
The long-term vision involves a “Connectivity-as-a-Service” model, where the complexity of switching between orbits is hidden from the end-user. As Eutelsat moves toward this goal, the primary challenge remains balancing the high CAPEX requirements of LEO deployment with the declining margins of the legacy broadcast business.
