-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 ADeUzQupgWsWPsx6E+LRsSjnUAZKWZf8kVawIesipAMyMQQ0n89z6kOUgSacnddi
 kznHfehlEjIzkKGDmXQ3Ag==

<SEC-DOCUMENT>0001209191-08-032599.txt : 20080522
<SEC-HEADER>0001209191-08-032599.hdr.sgml : 20080522
<ACCEPTANCE-DATETIME>20080522213217
ACCESSION NUMBER:		0001209191-08-032599
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080520
FILED AS OF DATE:		20080522
DATE AS OF CHANGE:		20080522

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LORAL SPACE & COMMUNICATIONS INC.
		CENTRAL INDEX KEY:			0001006269
		STANDARD INDUSTRIAL CLASSIFICATION:	RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663]
		IRS NUMBER:				870748324
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		600 THIRD AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016
		BUSINESS PHONE:		2126971105

	MAIL ADDRESS:	
		STREET 1:		600 THIRD AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LORAL SPACE & COMMUNICATIONS LTD
		DATE OF NAME CHANGE:	19960124

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			DEVABHAKTUNI SAI S
		CENTRAL INDEX KEY:			0001341022

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14180
		FILM NUMBER:		08856219

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		(212) 262-0005

	MAIL ADDRESS:	
		STREET 1:		MHR FUND MANAGEMENT LLC
		STREET 2:		40 WEST 57TH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>bny58951_bny1ssd.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-05-20</periodOfReport>

    <issuer>
        <issuerCik>0001006269</issuerCik>
        <issuerName>LORAL SPACE &amp; COMMUNICATIONS INC.</issuerName>
        <issuerTradingSymbol>LORL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001341022</rptOwnerCik>
            <rptOwnerName>DEVABHAKTUNI SAI S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MHR FUND MANAGEMENT LLC</rptOwnerStreet1>
            <rptOwnerStreet2>40 WEST 57TH STREET, 24TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10019</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-05-20</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2000</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">These shares are restricted stock.  Fifty percent of such shares will vest on the first anniversary of May 20, 2008 (the &quot;Grant Date&quot;), the remaining fifty percent of such shares will vest on the second anniversary of the Grant Date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Sai S. Devabhaktuni</signatureName>
        <signatureDate>2008-05-22</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----