Arabsat results “impressive and successful”
April 20, 2015
By Chris Forrester
Arabsat’s deputy chairman (and Kuwaiti ministry of Communications undersecretary) Hamid Al-Qattan, praised Arabsat’s commercial performance over the past year at the operator’s Board Meeting and General Assembly held in Amman, Jordan.
Al-Qattan said Arabsat’s results were “impressive and successful”, adding that the organisation’s financial and administrative reports discussed during the meeting had reflected its distinctive performance and thriving investments.
Arabsat’s CEO Khalid Balkheyour said that Arabsat revenues amounted to $360 million with a $162 million profit during 2014, which saw the launch of its sixth generation satellites. He said that Arabsat is the only satellite operator in the Middle East which offers a full range of telecommunications, broadcasting and broadband services through a growing series of satellites in the orbit’s 26, 30.5, 20 and 44.5 degrees to the East in addition to Hellas Sat Satellite which is owned by Arabsat at 39 degrees.
Jordan and Sudan were elected as members on the Arab Satellite Communications Organization (Arabsat)’s Board of Directors.