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[Satellite TODAY 10-04-11] U.K. satellite operator Avanti Communications signed three more clients for its broadband satellite Hylas 1, as well as one client for Hylas 2, which is scheduled to launch in the second quarter of 2012, the company announced during its latest financial results issued Oct. 3.
The company said it secured a contract with Bentley Walker for bandwidth on Hylas 2 to serve customers in Afghanistan. The two-year contract is valued at $2 million plus a further one-year extension option.
Despite the new business, Avanti also posted a wider 2011 full-year loss due to higher costs after it decided to manage three satellite projects instead of one in the period, according to Hylas management.
Avanti Chairman John Brackenbury said the operator started the early-stage work for the construction of its third satellite in the series. “Our pipeline of new business gives us confidence in our ability to meet expectations,” Brackenbury said in a statement.
The company also said it completed a $328 million launch insurance policy for Hylas 2, which represents a savings of $15 million against the previously estimated cost.
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