Hong Kong-based APT Satellite Holdings reported a significant 9.4 per cent drop in revenues for the first half-year of 2019, worth HK$565 million (€64.8m). The operator received $16.5 million in insurance compensation last year for the partial loss of Apstar-6 in May 2018, and another $4.4 million in June.
APT, in statements to the Hong Kong stock exchange, said another partial insurance would be made later this year.
APT also reported that its Apstar-6D satellite, initially expected to be delivered by its Chinese manufacturers this year would not now be delivered until 2020. China Great Wall Industry Corp., the satellite manufacturer has not given reasons for the delay. The satellite was ordered in 2016.
APT said that market conditions in its operating areas remained “fierce”.
APT is controlled by Chinese investors.