For those who came in late, OneWeb is SpaceX Starlink, and is building a network of low-Earth orbit (LEO) satellites that can provide high-speed broadband with much lower latencies than traditional geostationary satellites.

After a launch in December, "launches will continue throughout 2021 and 2022 and OneWeb is now on track to begin commercial connectivity services to the UK and the Arctic region in late 2021 and will expand to delivering global services in 2022", OneWeb said.

In March this year, OneWeb filed for bankruptcy and reportedly laid off most of its staff. In July, OneWeb agreed to sell the business to a consortium including the UK government and Bharti Global Limited for $1 billion.  It is thought that the UK government wants the outfit to create its own GPS system which is seperate from the European project.

On Friday OneWeb said it has secured "all relevant regulatory approvals" needed to exit bankruptcy.

Bharti founder and Chairman, Sunil Bharti Mittal, said: "Together with our UK Government partner, we recognised that OneWeb has valuable global spectrum with priority rights, and we benefit from $3.3 billion invested to date and from the satellites already in orbit, securing our usage rights."