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Exhibit 12


LORAL SPACE & COMMUNICATIONS LTD., A DEBTOR IN
POSSESSION


COMPUTATION OF DEFICIENCY OF EARNINGS TO COVER FIXED
CHARGES


|                                                                                                                    |                                           |                  |         |       |      |   |          |       | 
|------------------------------------------------------------------------------------------------------------------- | ----------------------------------------- | ---------------- | ------- | ----- | ---- | - | -------- | ----- | 
|                                                                                                                    |                                           | Six Months Ended |        
|                                                                                                                    |                                           | June 30,         |        
|                                                                                                                    |                                           |                  |        
|                                                                                                                    |                                           | 2005             |         |       | 2004 |  
|                                                                                                                    |                                           |                  |         |       |      |  
|                                                                                                                    |                                           | (In thousands)   |        
|                                                                                                                    |                                           | (Unaudited)      |        
|Loss from continuing operations before income taxes, equity
    income (losses) in affiliates and minority interest |                                           | $                | (39,983 | )     |      | $ | (125,366 | )    
|Plus fixed charges:                                                                                                 |                                           |                  |         |       |      |   |          |      
|                                                                                                                    | Interest expense                          |                  |         | 2,448 |      |   |          | 788   | 
|                                                                                                                    | Interest component of rent
    expense(1) |                  |         | 3,026 |      |   |          | 4,115 | 
|Less: capitalized interest                                                                                          |                                           |                  |        |       |      |   | (957     | )    
|                                                                                                                    |                                           |                  |         |       |      |  
|Earnings available to cover fixed charges                                                                           |                                           |                  | (34,509 | )     |      |   | (121,420 | )    
|Fixed charges                                                                                                       |                                           |                  | (5,474  | )     |      |   | (4,903   | )    
|                                                                                                                    |                                           |                  |         |       |      |  
|Deficiency of earnings to cover fixed charges                                                                       |                                           | $                | (39,983 | )     |      | $ | (126,323 | )    
|                                                                                                                    |                                           |                  |         |       |      |  






|    |                                                                                                    
|--- | ---------------------------------------------------------------------------------------------------
|(1) | The interest component of rent expense is deemed to be
    approximately 25% of total rent expense.