Inmarsat reschedules GX satellite launch for August
AVIATION telecomms company Inmarsat has rescheduled the launch of a satellite needed to complete its new Global Xpress network for the end of August, after failures in May delayed operations.
The telecom service for shipping and aviation had to delay the service, which it says will deliver $500m (£322.3m) in annual revenue within five years, when a rocket carrying a Mexican satellite blew up over Siberia minutes after launch.
Chief executive Rupert Pearce said the launch would allow the operator’s latest network to start running by the end of the year.
Pearce said: “A successful launch of I-5 F3 in late August will enable us to introduce global GX commercial services by the end of this year, providing a major catalyst for a step-change in revenue.”
Sales to the end of June dropped five per cent to $616.2m compared with the same period last year. Pre-tax profit also fell to $165.9m from $168.3m.