Airspan Networks

History

2024: Bankruptcy Declaration

In early April 2024, American telecom equipment manufacturer Airspan Networks filed for bankruptcy. The corresponding application was sent to the US Bankruptcy Court in Wilmington (Delaware).

Florida-based Airspan was originally the product division of DSC Communications, a manufacturer of switching equipment. Airspan was separated into an independent structure in 1998. Initially, the company focused on solutions such as small cells (low-power cell sites designed to serve a small area). Through the acquisition of Mimosa Networks, Airspan has entered the fixed wireless market. And subsequently, the company began to develop 5G solutions.

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Since going public in 2021, Airspan has faced serious difficulties. The company has relied on Open RAN architecture and private networks, but the market is not growing as fast as expected. In addition, Airspan has to compete with such strong players as Ericsson, Nokia and Samsung. In this situation, Airspan was forced to reduce the number of personnel by more than half - from 800 employees to about 370 people, but failed to cope with financial problems.

According to court documents, as of early April 2024, Airspan owes creditors about $205 million. The company attributes its plight to ongoing supply chain disruptions, competitive pressures and the need to spend heavily on research. Against this backdrop, Airspan went to court for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code. The procedure, as noted, provides for the restructuring of the business.^[1]

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