Avanti set to launch its third satellite in 2015

‘Avanti Communications’ provides satellite broadband services to households, enterprises, institutions etc through telecom companies.

Its second satellite is proposed to be introduced in the summer and the third after about three years.

The chairman of the company John Brackenbury is happy that the finance required for the HYLAS 3 (Highly Adaptable Satellite), the third satellite is already arranged. The company intends to sell 26.8 million of the company shares to facilitate funding for design, construction and commissioning of HYLAS 3

‘European Space Agency’ which had cooperated with them in the development of

HYLAS 1 will be again requested to partivcipate in the case of HYLAS 3.

In the meantime, the company announced its financial results for the final two quarters of 2011. There has been considerable hike in the revenue and a pre tax profit of GBP 6.6 million was achieved.

The first of the three satellites of Avanti has not yet attained the maximum capacity. The second one is under development.

There has been good number of enquiries from the Middle East and Africa for the satellite broadband service. Avanti will do its best to capitalize on the demand. Once the HYLAS 3 becomes fully operational, 70% of the company’s concentration will be on the emerging markets of high economic growth.

During the last two months, the company has got new orders worth GBP 23 million. It forecasts revenue of GBP 50 million once HYLAS 1 reaches its full capacity in 2014.