Honeywell buys capacity on Inmarsat's GX system
Satellite communications services firm Inmarsat has signed a master distribution agreement (MDA) with US technology firm Honeywell to jointly provide business aviation satellite services.
Satellite communications services firm Inmarsat has signed a master distribution agreement (MDA) with US technology firm Honeywell to jointly provide business aviation satellite services.
The partnership will focus on Inmarsat's Global Xpress (GX) satellite system, which is scheduled to go into service commercially late next year, with business customers expected to be signed up in the first quarter of 2015.
The agreement includes a five-year capacity purchase by Honeywell.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely 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
"Honeywell's extensive product and services offerings in the business aviation space, coupled with the unprecedented aircraft connectivity capabilities of Inmarsat's GX network set the stage for a step change in business aviation connectivity services," claimed Carl Esposito, vice president of Marketing, Strategy and Product Management for Honeywell Aerospace.
Leo Mondale, Managing Director of the Inmarsat Global Xpress Programme said: "By combining their industry-leading experience with GX we ensure that business aviation customers will rapidly benefit from the introduction of our new generation connectivity services."
Shares in Inmarsat were down 6.5p at 581.5p in a falling market in early trading.
JH
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Santander reveals failed home sales are costing the UK economy £1.5 billion - how to fix the housing market
A lack of certainty in the homebuying process is frustrating for buyers and sellers but is also bad for the economy
-
Inflation holds steady at 3.8% ahead of BoE meeting
The rate of inflation did not rise in August, but the Bank of England is still expected to keep interest rates on hold tomorrow