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Viasat conducted a survey of business aviation professionals in partnership with Corporate Jet Investor that found consistent performance was the most important factor when selecting a connectivity solution, with 31% ranking it as the number one factor and 62% ranking it first or second.
Viasat’s ELEVATE partners MinFarm Tech Ltd. and Global Beam Telecom LLC are opening a new facility in Business Bay, Dubai, UAE for IoT-over-satellite (satIoT) innovation.
The Viasat/CJI survey found 70% of respondents said improved passenger experience was the main benefit of equipping their aircraft with a connectivity solution, while 12% cited enhancing resale value and 9% cited future-proofing investments.
Viasat is offering an incentive for business aviation customers that use SwiftBroadband (SBB) and SwiftJet L-band connectivity, acquired from Inmarsat, to upgrade to any Viasat Ka-band solution to enable near-term savings and other SBB-related benefits.
The expanded range of Viasat service options will be available to business aviation customers using Viasat’s existing GAT-5510 terminal and to aircraft using three upcoming next-generation Jet ConneX terminals: Satcom Direct’s Plane Simple Ka-band, Orbit’s AirTRx30, and Honeywell’s JetWave X.
The expanded Viasat service options will be available in early 2024 for aircraft equipped with the GAT-5510 and upon entry-into-service for aircraft equipped with any next-generation Jet ConneX terminal.
Orbit will launch a trade-in program in 2025 to exchange LRUs for ViaSat-3 capability at a nominal cost without requiring changes to aircraft wiring or interfaces.
Customers who purchase and install the AirTRx-30 will be able to use Viasat’s GX satellites when the terminal enters commercial service in 2024 and the terminal will be forward compatible with future GX satellites.
The integrated Orbit–Viasat solution provides business aviation customers access to Viasat’s Ka-band network, comprising Viasat-3 and GX satellites, through a simple upgrade to the AirTRx-30 without changing aircraft wiring or interfaces.
Viasat expects to report more than $3,000,000,000 of liquidity as of 2023-09-30, including approximately $2,000,000,000 of cash, cash equivalents, and short-term investments with no near-term outstanding debt maturities.
Viasat plans to provide more details on its next earnings call planned for November 2023.
Viasat now anticipates achieving approximately $80,000,000 in annual operating expense synergies and approximately $110,000,000 in annual capital expenditure synergies fully in FY25, instead of over an approximate three-year period as originally planned.
Viasat forecasts FY25 capital expenditures to decline from FY24 to a range of $1,400,000,000 to $1.5 billion, including completion of the final stages of the ViaSat-3 constellation and the continued build of GX satellites.
Viasat determined that the ViaSat-3 F1 satellite payload is functional but expects to recover less than 10% of the planned throughput on ViaSat-3 F1.
ViaSat-3 Americas (ViaSat-3 F1) experienced a problem deploying its large antenna that will reduce the satellite’s available capacity by more than 90 percent.
Viasat expects revenue growth in the high single-digits over 2022-10-01 for the combined company including Inmarsat historical results in 2022-10-01 for comparative purposes.
Viasat expects to realize approximately $80,000,000 in annual operating expense synergies and approximately $110,000,000 in annual capital expenditure synergies fully in FY25.
Viasat expects to recover less than 10% of ViaSat-3 Americas' planned throughput.
Viasat remains on track to achieve its 2023-10-01 outlook excluding integration and related costs as indicated in its 2023-08-01 Letter to Shareholders.
Inmarsat-6 F2 became part of Viasat's fleet in May following Viasat's $6,200,000,000 acquisition of Inmarsat.