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Inmarsat was the third satellite operator to delist from public markets in 2019, following Hong Kong-based AsiaSat and London-based Avanti in September 2019.
Isotropic Systems completed two-way communications tests of its electronically steered antenna using Avanti’s Hylas-4 satellite.
Avanti operates three satellites in geostationary orbit.
Delisting will reduce Avanti’s administrative costs by around $500,000 annually.
Avanti uses Ka-band satellites and payloads to provide connectivity services across Europe, the Middle East, and Africa.
Avanti reported $30,200,000 in revenue for the first six months of the year, a $4,600,000 year-over-year increase.
After announcing its delisting plans, Avanti’s stock closed at 0.1134 kg a share on 2019-09-05, reducing the company’s market capitalization to £8,600,000.
Avanti reported an 80% year-over-year increase in backlog to $156,400,000 as of 2019-06-30.
Avanti has a hosted payload on Airbus’ and the European Space Agency’s EDRS-C lasercomm satellite.
MDA Corp., now part of Maxar Technologies, supplied Avanti’s hosted payload on EDRS-C, completing Avanti’s fleet of four spacecraft.
British operator Avanti has a hosted payload on EDRS-C equipped with eight Ka-band spot beams.
Avanti signed a $10,000,000 contract with fleet operator Viasat of Carlsbad, California in June 2018 for capacity on its Hylas-4 satellite.
Avanti forecasts overall revenues to increase 67 percent in 2019 and an additional 30 percent in 2020 largely through new government customers on Hylas-4 and the upcoming Hylas-3 hosted payload.
Avanti’s Hylas-3 hosted payload was originally expected to launch in 2015.
Avanti’s Hylas-3 hosted payload is scheduled to launch in late July aboard Airbus and the European Space Agency’s European Data Relay Satellite C with the payload and host satellite launching on an Ariane 5 rocket.
Avanti reported $53,500,000 in revenue for fiscal year 2018, down $3,100,000 from the previous fiscal year.
Avanti established an office in Washington to address the U.S. military market.
Avanti increased its contracted backlog by more than $100,000,000 and had a contracted backlog of $166,400,000 as of 2018-12-31.
Avanti filed with the London Stock Exchange on 2019-05-28 that the credit facility is for a two-year period and allows loans at an annual interest rate of 12.5 percent.
Once in orbit, Hylas-3 will join Avanti’s fleet of three Ka-band satellites covering Africa, the Middle East, and Europe.