<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS OF LORAL SPACE & COMMUNICATIONS LTD. FOR THE QUARTER ENDED
MARCH 31, 1997, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                         605,566
<SECURITIES>                                         0
<RECEIVABLES>                                  321,432
<ALLOWANCES>                                         0
<INVENTORY>                                    101,553
<CURRENT-ASSETS>                                91,839
<PP&E>                                         813,578
<DEPRECIATION>                                 135,681
<TOTAL-ASSETS>                               2,581,642
<CURRENT-LIABILITIES>                          367,969
<BONDS>                                        677,379
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                        459
<COMMON>                                         1,911
<OTHER-SE>                                   1,067,293
<TOTAL-LIABILITY-AND-EQUITY>                 2,581,642
<SALES>                                        340,353
<TOTAL-REVENUES>                               350,492
<CGS>                                          331,016
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                 19,476
<INCOME-TAX>                                     9,339
<INCOME-CONTINUING>                              (406)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     (406)
<EPS-PRIMARY>                                      .00
<EPS-DILUTED>                                      .00