Avanti says the evolution of high-throughput satellites is outpacing the company’s satellite fleet, making it difficult to secure business with the Hylas 1 and Hylas 2 broadband satellites.
Satellite fleet operator Avanti Communications, which is seeking a buyer or strategic investor to avoid a loan default, has won fresh support from its long-time supporter, the European Space Agency, in the form of a $12-million investment to provide broadband in Africa, ESA and Avanti said.
Satellite fleet operator Avanti Communications Group on July 7 revised downward its expected revenue for the coming 12 months and said a loan expected from an unnamed export-credit agency would require the company to raise $50 million in new equity.
Satellite fleet operator Avanti Communications Group on May 16 promised investors an exceptional feat of revenue growth in the next few months as it seeks to meet its target for the fiscal year ending June 30.
Avanti's three satellites have been just 20-25 percent full recently, says average pricing is holding firm in its core European, African and Middle Eastern markets.
Satellite fleet operators SES of Luxembourg and Avanti Communications of London have concluded a Ka-band spectrum agreement under which Avanti has transferred to SES spectrum rights outside Avanti’s current commercial coverage regions valued at $25.1 million, the two companies said.
Satellite fleet operator Avanti Communications Group of London closed a combined debt and equity financing deal that netted $136.3 million.
Satellite fleet operator Avanti Communications Group on May 12 said its three-satellite fleet, principally the Hylas 1 and Hylas 2 satellites launched in November 2010 and August 2012, were between 15 percent and 20 percent full during the three months ending March 31.