Avanti
Avanti shareholders approve stock’s delisting
Shareholders in British satellite operator Avanti voted overwhelmingly to remove the company from the London Stock Exchange, agreeing with management that the company is better off privately held.
Overhauled business plan bearing fruit, Avanti says
Selling capacity to other satellite operators is now one of Avanti’s main priorities, followed by selling to the U.S. Defense Department, Avanti CEO Kyle Whitehill said in a June 10 financial report.
Avanti secures $55 million credit line
Avanti, in a May 28 filing with the London Stock Exchange, said the credit facility is for a two-year period through which it can take loans with an annual interest rate of 12.5 percent. The company said it plans to use the loans to fund capital expenditures and meet working capital needs.
FIRST UP Satcom | Viasat wins $122.5M FCC subsidy • Gilat suppling ground equipment for Yamal-601 • Avanti eyes DoD business with Comsat
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Viasat leases Hylas-4 capacity from Avanti
Viasat on June 25 acquired a quarter of the steerable capacity on Avanti’s newest satellite, Hylas-4, providing fresh Ka-band resources the company can use anywhere from the Americas across the Atlantic to the Middle East.
Indonesia ordered to pay Avanti $20 million for missed satellite lease payments
Avanti has been awarded $20 million in a dispute with Indonesia's government over missed payments on a borrowed communications satellite, the British satellite operator announced June 7.
Avanti CTO Retiring in June
Bestwick will be the second major executive departure for Avanti in less than a year. David Williams, chief executive and fellow co-founder, left the company in August 2017.
With Hylas-4 in orbit, Avanti hopes to take lead in African HTS
In the months preceding the launch of Avanti’s Hylas-4 satellite, the British operators didn’t mince words when it described the importance of a successful mission as “critical.”
Ariane 5 lofts two long-awaited telecom satellites
Arianespace on April 5 launched two satellites for telecom operators that for separate reasons were both more than a year behind their original launch schedules.
Avanti tallies $114.1 million in impairment charges for Hylas-1 and 2 satellites
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.
Avanti CEO leaves company
David Williams, chief executive of broadband satellite operator Avanti Communications, has parted ways with the company he co-founded.
Avanti gets new ESA contract, seeks payment relief from suppliers, creditors
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.
Avanti’s cash demands force search for possible buyer
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.
Avanti promises revenue acceleration, new Ka-band over Europe by June
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 reports flat revenue but increased backlog ahead of 2017 launches
Satellite broadband provider Avanti Communications Group on Feb. 4 reported flat revenue for the six months ending Dec. 31 compared to a year ago but said backlog had increased and that the next six months should see substantial revenue growth.
Avanti’s stock jumps 16% on favorable Moody’s report
Satellite broadband provider Avanti Communications’ stock soared on Jan. 27 after months of declines, apparently on the strength of a largely favorable report by Moody’s Investor Service.
