Inmarsat Aviation IFC boon
May 27, 2022
By Chris Forrester
Inmarsat has had a lean couple of years as a result of Covid. But its Q1 revenues show that its Aviation division is up 45 per cent (from $47.3 million [€44m] same period last year to $68.7m). Government-related business also grew nicely by 9.6 per cent (from $114.5m to $125.5m). Overall, London-based Inmarsat saw revenues improve 7.9 per cent (from $332.4m to $348m).
Inmarsat is in the process of being acquired by California-based Viasat. The deal is expected to close later in 2022 and “remains on track” says Inmarsat.
Inmarsat operates a diverse range of Aviation-related businesses including connectivity feeding entertainment into commercial jets (Global Xpress) as well as cockpit-based communications and the Europe-wide European Aviation Network (EAN) terrestrial and S-band aircraft connectivity. Inmarsat serves some 836 jets as at March 31st. However, its Business jet installed base saw revenue grow 53 per cent and growth in the fleet by 23 per cent to 1,150 aircraft.
CEO Rajeev Suri says that its government-related business outside of the US was “particularly strong” and grew 31 per cent.