Satellite firm SES's revenue jumps 80% as airplane connectivity gains momentum
· CNA · JoinRead a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST Tap here to return to FAST
FAST
May 12 : Luxembourg-based satellite operator SES on Tuesday reported first-quarter results in line with market expectations and reiterated its yearly guidance, as it flagged strong momentum in its aviation and European infrastructure businesses.
Revenue was 847 million euros ($996 million) in the quarter, up 80 per cent year-on-year at constant currency. The company signed 306 million euros worth of new business and contract renewals over the three-month period.
The aviation business was a standout performer, CEO Adel Al-Saleh said in a statement, with commitments secured for more than 40 long-haul aircraft for Japan Airlines.
SES and Boeing also reached a milestone toward a factory line-fit solution for the multi-orbit system across all Boeing aircraft models, he said.
CNA Games
Guess Word
Crack the word, one row at a time
Buzzword
Create words using the given letters
Mini Sudoku
Tiny puzzle, mighty brain teaser
Mini Crossword
Small grid, big challenge
Word Search
Spot as many words as you can
Show More
Show Less
"During the quarter, our Aviation business benefitted from nearly 600 aircraft now flying with the SES multi-orbit inflight connectivity system, delivering fast, dependable internet access to millions of passengers," Al-Saleh said.
On the European infrastructure front, SES and the European Union Agency for the Space Programme extended the EGNOS GEO-1 satellite service agreement through 2030, helping maintain high-precision navigation services for aviation and other critical users across Europe.
SES also continues to progress through orders for the IRIS² programme, working closely with the European Commission to validate project cost, technical requirements and delivery timelines.
The company said it remained committed to the European Union's vision for a sovereign space-based connectivity infrastructure.
($1 = 0.8508 euros)
Newsletter
Week in Review
Subscribe to our Chief Editor’s Week in Review
Our chief editor shares analysis and picks of the week's biggest news every Saturday.
Sign up for our newsletters
Get our pick of top stories and thought-provoking articles in your inbox
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app