SECURITIES AND EXCHANGE COMMISSION


                             Washington, D.C. 20549



                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934



                Date of Report (Date of earliest event reported):
                                 January 5, 2004
                                 ---------------


                                LORAL ORION, INC.
                                -----------------
             (Exact name of registrant as specified in its charter)

Delaware                            0-22085                         52-2008654
- --------------------------------------------------------------------------------
(State or other                   (Commission                     (IRS Employer
jurisdiction of                   File Number)                    Identification
incorporation)                                                        Number)


                  500 Hills Drive, Bedminster, New Jersey  07921
               ---------------------------------------------------
               (Address of principal executive offices) (Zip Code)


               Registrant's telephone number, including area code:
                                 (908) 470-2300
                                 --------------




Item 9. Regulation FD Disclosure
        ------------------------

     On January 5, 2004, Loral Space & Communications Ltd. ("Loral") filed its
monthly consolidated operating report for the period of October 25, 2003 through
November 21, 2003 (the "Operating Report") with the U.S. Bankruptcy Court for
the Southern District of New York (the "Bankruptcy Court"). Certain information
pertaining to Loral Orion, Inc. (the "Company") is contained in the schedules to
the Operating Report. Copies of the Operating Report may be obtained from the
Bankruptcy Court's website located at http://www.nysb.uscourts.gov.

     Limitation on Incorporation by Reference

     In accordance with General Instruction B.2 of Form 8-K, the information in
this Item 9 shall not be deemed "filed" for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise
subject to the liabilities of that section, nor shall such information be deemed
incorporated by reference in any filing under the Securities Act of 1933, as
amended, except as shall be expressly set forth by specific reference in such a
filing. The information set forth in this Item 9 will not be deemed an admission
as to the materiality of any information required to be disclosed solely to
satisfy the requirements of Regulation FD.

     Cautionary Statement Regarding Financial and Operating Data

     The Operating Report contains financial statements and other financial
information (including the information pertaining to the Company) that have not
been audited or reviewed by independent accountants and may be subject to future
reconciliation and adjustments. The Operating Report is in a format prescribed
by applicable bankruptcy laws and should not be used for investment purposes.
The Operating Report contains information for periods different from those
required in the Company's reports pursuant to the Exchange Act, and that
information might not be indicative of the Company's financial condition or
operating results for the period that would be reflected in the Company's
financial statements or in its reports pursuant to the Exchange Act. Information
set forth in the Operating Report pertaining to the Company should not be viewed
as indicative of future results.


                                       2




                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                        Loral Orion, Inc.

                                        By: /s/ Janet Yeung
                                            ------------------------------
                                        Name:  Janet Yeung
                                        Title: Vice President and
                                               Assistant Secretary


Date: January 6, 2004