FINANCIAL NEWS

Boeing signs $1.2b deal with Inmarsat

10 Aug 2010

(MENAFN) Inmarsat has signed a $1.2 contract with Boeing to deliver three 702HP Ka-band satellites, Gulf News reported.

Inmarsat, the provider of global mobile satellite communications services, said that the contract will allow Inmarsat to offer a global highspeed mobile broadband service.

According to a statement released by the company, Inmarsat-5 will provide a better next generation global service, such as Global Xpress, which will target a $1.4-billion incremental market opportunity in very short aperture telecommunication (VSAT) services in the Maritime, Energy and government fields, in addition to developing markets such as the Aeronautical sector.

Also, the statement stated said Inmarsat will target $500 million of yearly Ka-band revenues five years after global service launch. Inmarsat estimates that the total cost to Inmarsat-5 and Global Xpress will be $1.2 billion within 4.5 years, incorporating the fixed cost of the satellites, as well as the cost of additional ground network infrastructure, product development, launch services and insurance.

Revenue of Inmarsat reached $1.04 billion with an earnings before interest, taxes, depreciation and am ortisation of $594.2 million.

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