closedownarrowlogo-verticalmenu-barsearch Skip to main content
Jump to navigation
Tree news

Satellite broadband provider Avanti Communications has announced plans to send a second rocket into orbit.

The firm raised £280 million to fund the development of HYLAS 2 - £86 million from existing shareholders and £194 million in debt facilities from French and US-based credit agencies.

David Williams, Chief Executive at the broadband provider, said he was delighted to announce the "highly efficient" financing of the project.

He said that through the initiative, Avanti would be diversifying its risks by launch, satellite manufacturer and geography, making it a more attractive business proposition.

Mr Williams commented: "HYLAS 2 is a much larger satellite and therefore greatly increases our revenue and profit potential. With equity dilution of less than 50 per cent, we gain additional satellite revenue generating capacity of 275 per cent.

"It is clear to Avanti that the market for Ka band broadband services is growing at a much higher rate than originally anticipated."

He said the project would enable the firm to secure its position as "a world leader in satellite broadband" and one of the only firms with more than one Ka band satellite.

Avanti's HYLAS 1 satellite is being readied for launch ahead of a mid-2010 take-off into space.

Join the conversation

comments powered by Disqus

Stay up to date

  • Google+ Follow uSwitchTech
  • Subscribe to our RSS feed

Latest Comments

  • Dave 1 day ago TalkTalk CEO reads 'awful'... Didn't have Internet access for 2 month 1st engineer didn't turn up down to broken down van day of...
  • Patricia.Green.92 3 days ago Scientists use infra-fed to make... I was paid 104000 bucks past year by doing an on-line task furthermore I was able to do it by w­orking in...
  • Amy.Mercado 3 days ago Sky Q customers to get F1 races... I was paid 104000 dollars last 12 months by doing an online job moreover I was able to do it by w­orking...

Search news