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LONDON, May 16 (Reuters) - British satellite company Inmarsat said the failure of a Proton rocket would likely delay the planned launch of the two satellites it planned to put into orbit later this year to complete its new Global Xpress network.
A Russian Proton-M rocket carrying a $275 million telecommunications satellite failed and burned up shortly after launch on Friday, the second failure for the vehicle in less than a year.
Inmarsat, which has a contract with International Launch Services using Proton, said while an investigation would determine the impact on its programme, a delay in the launch of both the Inmarsat-5 F2 and F3 was now likely, which would delay the launch of GX services on a global basis.
Inmarsat's shares were trading down 0.7 percent at 705.5 pence at 1450 GMT. (Reporting by Paul Sandle)