Fractional jet ownership leader Flexjet will add Viasat’s in-flight connectivity products to portions of its fleet, bringing high-speed internet service to its owner/passengers.
ViaSat-3
First ViaSat-3 satellite completes payload integration
The first of the ViaSat-3 satellites reached a major milestone with completion of payload integration and performance testing. The satellite payload shipped to Boeing Satellite Systems in El Segundo, CA for bus integration. The fully assembled satellite will then undergo a complete series of environmental testing to simulate the rigors of launch and operation in the harsh environment of space. Launch is targeted for early calendar year 2022.
Intelsat plans bankruptcy exit, notes liquidation risks
Intelsat has a plan to emerge from its Chapter 11 bankruptcy protection. It involves slashing debt owed by more than half, from $15 billion to $7 billion. But the debtors must agree to those losses. If not, the company faces a more dire outcome, including the likely liquidation of its recently acquired Gogo Commercial Aviation business.
Viasat teams with Gazprom, TMC for access to Russia
Access to Russia is critical when it comes to delivering satellite connectivity on a global basis. Viasat took a large step forward on that front this week, announcing a MOU with Gazprom for satellite capacity and TMC for the necessary local license to access the market.
Viasat optimistic on aviation market, capacity expansion
Viasat appears spectacularly optimistic these days, riding high on the Delta Air Lines deal and impending ViaSat-3 launch plans. So much so that it now anticipates a permanent positive free cash flow.
Viasat acquires RigNet, expands satellite service range
Viasat’s global satellite mobility services offering now includes a major off-shore component. The company agreed to acquire RigNet, a provider of networking services to the oil and gas industry, in an all-stock deal that should have some trickle-down impact to the IFEC segment.
Viasat buys out Eutelsat KA-SAT stake, European wholesale operations
We’re a couple years out from the ViaSat-3 satellite delivering a massive boost in Ka-band satellite capacity over Europe, but Viasat is ready to scale up its offerings on the continent. The company will buy out Eutelsat’s stake in their joint venture (“EBI”) for 140 million euro, giving Viasat full control over the wholesale business as well as the KA-SAT satellite.
Seeking a strategic use for Viasat’s $175 million raise
Was Viasat’s recent deal to secure $175mm in new capital just a matter of convenient timing? Or is there a specific plan for the cash? CEO Mark Dankberg got into some of the possibilities today, including potential inflight connectivity opportunities, while clearly leaving the door open for many more options to come.
Eutelsat, Intelsat team up to sell QUANTUM capacity in MENA
When Eutelsat’s QUANTUM enters service in 2021 it will have two companies working to sell its capacity. A new deal with Intelsat announced today allows both companies to sell the satellite’s Ku-band capacity to customers.
Viasat raises $175 million in share sale
Viasat’s liquidity got a strong boost this week the company placed $175 million in shares through private transactions. The deal bolsters Viasat’s cash balance while not assuming additional debt, an important longer term factor for the company’s success.