Eutelsat's stock price increased significantly after Ukraine accused SpaceX of imposing sudden restrictions on its Starlink service, which hampered military communications and operations against Russian forces. Ukrainian President Volodymyr Zelenskyy condemned the actions, stating that the limitations on Starlink directly contributed to civilian casualties.
In response, SpaceX CEO Elon Musk attributed the situation to U.S. government control over the Starshield systems. Analysts from Deutsche Bank noted that Eutelsat is being viewed as a credible alternative to Starlink, especially given the recent disruptions.
Despite Eutelsat's consolidation with OneWeb to enhance its competitive stance, it still lags behind Starlink in terms of satellite numbers, with over 600 satellites compared to Starlink's more than 6,750.
The ongoing conflict has intensified, with Ukrainian officials warning that Russian attacks on infrastructure are escalating, further complicating the situation for Ukraine as it seeks support from its allies