LA PLATA, Maryland — Satellite fleet operator Yahsat reported a big increase in revenue in its Thuraya L-band mobility business on the strength of increased subscriber equipment sales and service revenue.
After a poor Q1 and an improved Q2 compared to a year ago, the Thuraya business in Q3 posted an 81% increase in revenue, to $29 million. Adjusted EBITDA was $7 million, up from $5 million last year.
In a Nov. 7 investor call on UAE-based Yahsat’s financial results, Chief Executive Ali Al Hashemi said Thuraya is showing improved results with maritime connectivity . . .
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