TAMPA, Fla. — Aalto is turning to Australia as a key operating base to bolster the business case for initial commercial services of its stratospheric pseudo-satellite over Japan, now pushed to 2027 amid regulatory hurdles and ongoing system-integration work.

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Jason Rainbow writes about satellite telecom, finance and commercial markets for SpaceNews. He has spent more than a decade covering the global space industry as a business journalist. Previously, he was Group Editor-in-Chief for Finance Information Group,...