Avanti Communications launches second satellite

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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.

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"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