Loral Space & Communications has a higher purpose. The holding company operates through its 100% owned subsidiary Space Systems/Loral (SS/L) and has majority stakes in two other satellite companies, Canada's Telesat and XTAR, a joint venture with Spain's Hisdesat. SS/L builds satellites for commercial and government customers, while Telesat and XTAR provide satellite services. Loral owns 64% of Telesat and has a 56% stake in XTAR. Telesat leases satellite transponder capacity to cable and satellite broadcasters as well as voice and data networks, while XTAR provides satellite services to the US and Spanish governments. Loral Space & Communications generates more than half of its sales in the US.