<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS OF LORAL SPACE & COMMUNICATIONS LTD. FOR THE QUARTER ENDED
SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               SEP-30-1996
<CASH>                                         592,734
<SECURITIES>                                         0
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                               615,742
<PP&E>                                          19,111
<DEPRECIATION>                                     613
<TOTAL-ASSETS>                               1,102,618
<CURRENT-LIABILITIES>                           10,699
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                        459
<COMMON>                                         1,911
<OTHER-SE>                                   1,074,939
<TOTAL-LIABILITY-AND-EQUITY>                 1,102,618
<SALES>                                              0
<TOTAL-REVENUES>                                     0
<CGS>                                                0
<TOTAL-COSTS>                                   11,075
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                 10,420
<INCOME-TAX>                                     1,641
<INCOME-CONTINUING>                              4,254
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     4,254
<EPS-PRIMARY>                                      .01
<EPS-DILUTED>                                      .01