Abu Dhabi-based satellite operator YahSat enjoyed a 6 per cent uplift in revenues for its 2023 trading year according to preliminary accounts. The extra cash came in particular from its Thuraya Telecom subsidiary.

However, overall operating profit fell 15 per cent because of write downs on the accelerated depreciation of its Al Yah 3 satellite which suffered an anomaly last year which has shortened its expected orbital life.

Yahsat’s fleet of 5 satellites reaches more than 80 percent of the world’s population, enabling communications including broadband, broadcasting, backhauling and mobility solutions. Based out of Abu Dhabi in the UAE, Yahsat provides C, Ku, Ka and L-band satellite communications solutions for land, maritime and aero platforms to consumers, governments and enterprises.

In 2023, Yahsat commenced construction of two new software-defined telecommunication satellites, Al Yah 4 and Al Yah 5, which are expected to be launched in 2027 and 2028, respectively.

YahSat is in the process of merging (announced on Dec 19 last year) with fellow UAE business Bayanat with the intention of having a greater focus on AI-powered space technology and with a global reach.

The merged company will see Bayanat and Yahsat shareholders  owning 54 per cent and 46 per cent respectively of the new combined entity (named Space42), with backing from G42, Mubadala and IHC, which will own approximately 42 per cent, 29 per cent and 8 per cent respectively.

Karim Michel Sabbagh will join as Managing Director of Space42 once the merger wraps.