As per the reports, the revenues of Avanti a popular British satellite operator are declining since 2015 and thus Avanti has decided to rewrite the business plan. They are tending to reduce the portion of consumer broadband from the overall revenue.
On June 10, Kyle Whitehill, CEO of Avanti said in the financial report that now one of the main priorities is to sell capacity to the other satellite operators which includes US Defense Department.
The firm has reported that they had earned the revenue of $53.5 million for 2018 and it is down by $3.1 million from its last fiscal year. However, the firm reported that it had gained a bit of financial momentum even after the fall, in the second half of 2018 as they have executed revised strategy. In turn, it has increased the supply of the firm by more than 100 million dollars. The company has estimated the contracted backlog of $166.4 million as of Dec31.
The company has also signed a contract with Viasat, a fleet operator, worth $10 million in June 2018. The contract is for Hylas-4 which is their newest satellite. Also, this year Avanti had leased capacity of Hylas-2 to Turksat, a fleet operator in Turkey.
Avanti has also setup a new office in Washington to address the military market of United States. They mentioned that they have a contract for seven years with Comsat, a contractor of Defense Department which gives immediate and easy access to the new customers in military.
CEO of Avanti, Whitehill said that Hylas 4 that had launched in April 2018 is now at its position to provide support to backhaul of cellular issues of Africa.
It is forecasted that Avanti is going to earn an increase of 67% in the overall revenue this year and it will increase by 30% more in the year 2020.