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Arianespace Quadruples 2001 Loss (May21)



EVRY, France---Following the Board of Directors meeting today in Evry, Arianespace announced its financial results for 2001 with a reported loss of 193 million euros on sales of 807 million euros.

These results were due to two factors: Arianespace's decision to take charges to account for rapidly deteriorating commercial conditions in the global launch services marketplace during the past months, and the company impact from a stand-down in Ariane 5 flights after the incident that occurred last July on the launcher's 10th mission.

Arianespace Chairman and CEO Jean-Marie Luton has proposed an aggressive action plan that will allow a rapid return to the breakeven point in the company's operations.

The Arianespace Board of Directors confirmed its full support for a further strengthening of the Ariane launch system, and it backed the commitment to deploy measures needed for Arianespace to successfully continue operations in line with the strategic and commercial goals.

Since the beginning of 2002, Arianespace successfully carried out six launches in less than 100 days -- including the Ariane 511 mission in February that marked a resumption of Ariane 5 launches. With seven more Ariane flights scheduled for the remainder of this year, Arianespace is set to perform a total of 13 launches in 2002.

Arianespace also signed six of the seven launch contracts open to commercial bids since the beginning of 2002, demonstrating the continuing client confidence in the Ariane launch system.

Arianespace is the commercial launch services leader, holding more than 50 percent of the international market for satellites launched to geostationary transfer orbit (GTO). Created in 1980 as the world's first commercial space transportation company, Arianespace has signed contracts for the launch of more than 240 satellite payloads.

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Arianespace Reports 2001 Financial Results