Avanti makes five year deal worth $7.3m

4th Jan 2012 13:20

Avanti Communications Group, the satellite operator, has sold capacity on its HYLAS 2 satellite to InSat in a five year deal worth $7.3m.Chief Executive of Avanti David Williams said: "We are now just a few months away from the launch of HYLAS 2 and I am pleased to note the capacity is selling well. Several beams are already close to full saturation and others are fully optioned."The attractive demand growth characteristics in the Middle East and Africa in all segments combined with a benign macro-economic environment gives us great confidence that this satellite will sell out well within our five year target."The share price rose 1.99% to 307.5p by 13:05PM. NR