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Inmarsat’s contribution for Viasat’s third quarter of fiscal 2024 was $443 million, up 12% year‑on‑year from Inmarsat’s standalone revenue in the prior year period.
Viasat has earmarked capital in its next fiscal year, which starts 2024-04-01, for potentially ordering a replacement for I‑6 F2 built by Airbus Defence and Space to support the L‑band connectivity business acquired from Inmarsat.
ViaSat‑3 F3 uses a different antenna and remains on track for a launch in the fourth quarter of 2024 on an undisclosed rocket.
The original plan designated ViaSat‑3 F1 to cover the Americas, ViaSat‑3 F2 to focus on Europe, the Middle East, and Africa, and ViaSat‑3 F3 to provide services over Asia Pacific.
Viasat’s revenues for the three months to the end of December increased 73% to $1,100,000,000 compared with continuing operations in the same period the prior year.
Following the antenna issue, Viasat plans to replace ViaSat‑3 F1 over the Americas with either ViaSat‑3 F2 or ViaSat‑3 F3 and move the replacement satellite elsewhere.
ViaSat‑3 F1 achieved between 200 and 300 megabits per second peak speeds during tests.
ViaSat‑3 F1 is a geostationary satellite and should be operating commercially in the second quarter of 2024.
Viasat is providing Wi‑Fi to more than 3,500 commercial aircraft, an increase of 17% year‑on‑year, with over 1,400 planes in the pipeline.
ViaSat‑3 F2 was originally set to fly on a United Launch Alliance Atlas V rocket last fall and is now slated to launch in the first half of 2025.
Boeing has a contract to deliver three ViaSat‑3 spacecraft for Viasat, which is providing the payloads.
Viasat expects to start providing Wi‑Fi to planes by the end of June from ViaSat‑3 F1.
Viasat reported a $124,000,000 net loss for the quarter, compared with a $47,000,000 net loss the prior year period, mainly due to increased interest expenses on debt incurred and assumed in the Inmarsat acquisition and costs to integrate the two companies.
Viasat filed a $421,000,000 insurance claim for ViaSat‑3 F1 and has received initial payments.
Viasat is claiming $349,000,000 in insurance proceeds for the total loss of Inmarsat‑6 (I‑6) F2.
ViaSat‑3 F1 lost more than 90% of its 1 terabit-per-second capacity after an antenna deployment failure.
As part of the ELEVATE program, AST will benefit from access to Viasat’s global L-band network to amplify its ability to provide IoT and satellite connectivity services.
Mark Steel has 35 years of experience in the communications and satellite industry and spent over a decade at Inmarsat, now part of Viasat, where he was Vice President of Product Development and Strategy.
AST will gain access to Viasat's broader partner network for collaboration on niche communications solutions.
Viasat provides dedicated technical guidance for integrating and supporting its satellite services in the ELEVATE program.