Yahsat expects Thuraya 4 NGS launch in second half of 2023

(14 Jul 2021) Yahsat plans to launch a new satellite in two years, aimed at introducing advanced data services to its clients by 2024, its chief executive said.

"The launch is the second half of 2023 and by the second half of 2024 services will kick in. This will bring the next generation technologies to the table," CEO Ali Al Hashemi was quoted as saying.

Shares of Al Yah Satellite Communications Co (Yahsat) began trading on 14 July 2021 after a US$730 million initial public offering, opening at 3 dirhams (US$0.8168) per share, 9% above its IPO price of 2.75 dirhams.

Al Hashemi said the launch will enable it to have a spectrum of unique features and the highest speeds available in the market. These services will cover maritime, Internet of things and data solutions, he said.

The Next Generation System satellite is being built by Airbus and will replace one of the satellites operated by Yahsat's satellite phone unit Thuraya, he said.

Currently Yahsat has five satellites, while its fixed and mobile services cover over 150 countries.

Reference: Reuters

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