Loral announced a definitive agreement to sell Telstar 8 to INTELSAT, renaming the satellite Intelsat Americas 8 (IA 8). INTELSAT changed the name of the Intelsat Americas 8 satellite to Galaxy 28 effective to 1 February 2007.
But on 15 July 2003, Loral filed under Chapter 11 of the United States Bankruptcy Code. In conjunction with the filing, Loral Skynet announced the sale of its North American satellite fleet to INTELSAT to help reduce its debt.