Avanti rents out more bandwidth on HYLAS 2

27th Apr 2010 15:12

Broadband satellite operator Avanti Communications has signed a contract with a national government for the sale of an option over specific capacity on its HYLAS 2 satellite.The Hylas 2 satellite serves the Middle East, Africa and Europe.The option is for three years and gives the customer right of first refusal on a specific amount of bandwidth from HYLAS 2. If fully exercised the deal will be worth £113.4m to Avanti and represents a contract price per megahertz (MHz) that is significantly higher than previous sales. Avanti will receive an option fee of £280,000. The company added that the agreement also keeps open the possibility of further collaboration with the unnamed customer in relation to capacity on other HYLAS satellites. "This is our third sale of capacity on Hylas 2, just three months after we financed and two years before it is launched in 2012," said David Williams, Avanti's chief executive.