Intelsat has posted a net loss of $145.7 million for the third quarter compared to one of $15.9 million in the same period last year.
At the same time, its total revenue for the three months ending September 30 increased by $36.6 million, or 7%, to $526.1 million compared to Q3 2020. This, the company notes, was primarily due to consolidation of revenue from its commercial aviation business. EBITDA was $146.1 million for Q3 compared to $266.7 million for the same period in 2020, reflecting lower interest expense, lower income, and higher reorganisation fees.
Commenting on the results, Intelsat’s CEO Stephen Spengler said” “We delivered strong quarterly sequential results despite the secular headwinds impacting the satellite industry. Network Services benefited from the continued recovery in North American airline travel resulting in higher in-flight connectivity revenues. Media was impacted by a large planned service migration from the Intelsat network onto customer-owned assets coupled with the ongoing business trends. The start of hosted payload service on our Galaxy 30 satellite and continued demand for our FlexMove land mobility managed services created positive momentum for our government business”.
Spengler concluded: “Our team remains committed to delivering a superior customer experience while making critical investments to expand our ability to deliver mission critical services. We remain focused on executing the C-band relocation to secure accelerated payments, maintaining a high standard of operational excellence, and transforming our business. Investment in our next generation network, coupled with our unmatched scale and partnerships, will position us well to secure new business opportunities”.
