Abu Dhabi - Mubasher: Thuraya Telecommunications Company, a mobile satellite services subsidiary of Al Yah Satellite Communications Company (Yahsat), has inked three-year distribution agreements worth AED 316 million with a global service provider.
The agreements will add to the group’s expected future cash flows and contracted backlog of more than AED 7 billion, equivalent to over five times the annual revenues of 2020, according to a press release.
Amid its stable cash flows, Yahsat prepares to launch Thuraya 4-NGS, the next-generation satellite system (T4-NGS), in 2023 and commence commercial operations in 2024.
Companies, including Airbus, SpaceX, and Cobham have been selected to support the construction of T4-NGS.
The Group CEO at Yahsat, Ali Al Hashemi, said: "These partnerships enable us to deliver consistent financial and operational results whilst ensuring our ability to invest in growth with new industry-leading products and solutions, both in the mobile and fixed satellite solutions space, to cement Yahsat’s leading position as a trusted partner of choice in the satellite communications industry."
