The UAE's Al Yah Satellite Communications Company (Yahsat) is planning to launch a new communication satellite by early next year, with an aim to expand broadband coverage in Africa and Brazil.
To be launched with a $350m investment, the proposed satellite will further enable Yahsat to provide broadband operations to an additional 19 markets worldwide.
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Once launched, the new satellite will also expand Yahsat’s existing fleet of two satellites, which were respectively launched in 2011 and 2012.
Currently being built by US’s Orbital ATK, the new satellite is slated to be launched aboard a European Ariane 5 rocket, reported Reuters.
Yahsat CEO Masood Sharif Mahmoud was quoted by Gulf News as saying: “We would be number four or five globally in the next five years. Our revenue will go up by 60 to 70% and you will see us become a satellite company with a fleet of eight satellites.
“We have been steady from the beginning. We’ve had positive cash flows from year one.
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By GlobalData“We have strong solid backlog on the government business that is helping us and solid double digit growth in commercial business.”
The company has also entered a memorandum of understanding (MoU) with Panasonic Avionics to offer broadband connectivity to various transportation modes.
The company has also signed a MoU with Etihad Airlines to explore opportunities for in-flight broadband connectivity.
