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Thuraya’s mobility revenues up 23%

March 11, 2024

By Chris Forrester

Thuraya, part of Yahsat, is in the process of merging with Bayanat into new business Space42. But while Yahsat reported a respectable 6 per cent rise in 2023 revenues, it was its Thuraya division which generated an impressive 23 per cent increase.

Yahsat bought Thuraya in 2018. Thuraya operates large satellites using L-band for mobility-based connectivity and revenues reached $100 million, its strongest performance since Thuraya was brought into Abu Dhabi-based Yahsat.

Yahsat also has a new Thuraya craft on order (Thuraya-4) which will further expand the company’s direct-to-cell and direct-to-device services. Yahsat says that it sees considerable appeal for mobile connectivity to phones.

CEO Ali Al Hashemi told analysts that a follow-on Thuraya-5 was under consideration but Yahsat was also looking at a LEO constellation as its business becomes more data-centric and away from voice-based activity.

“We will change the philosophy from voice-centric to data-centric, meaning we will compete with the big guys for the first time,” he added.

Yahsat itself is also busy with expansion to its fleet. Two satellites will be contracted by year-end with Airbus (Al Yah 4 and 5) and planned for launch in 2027 and 2028 and which will replace Al Yah 1 and 2.

Yahsat’s YahClick data service has recently expanded its coverage over Morocco, Malawi, Mozambique and Zambia.

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