Avanti Communications launches second satellite

Avanti Communications has successfully launched its second satellite which it hopes will rake in big profits providing data services to emerging markets.

The HYLAS 2 was launched from the European Spaceport in Kourou, French Guiana on Thursday night.

It will now go through three months of testing before beginning to offer services to customers.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

"HYLAS 2 will provide high speed data capacity across Africa, Caucasia and the Middle East" said Avanti's Chief Executive, David Williams, adding: "This service changes everything in the data markets in those regions that have previously left companies, governments and consumers poorly served."

Avanti shares opened higher but had fallen back 0.3% by 9:28. Since the beginning of the year the stock has risen 34% and now has an equity value of £434m.

BS