WASHINGTON — British satellite operator Avanti has no plans to relist on public markets anytime soon, focusing instead on streamlining costs while finding customers for its underutilized fleet of three satellites and two payloads.
Avanti removed itself from the London Stock Exchange in September 2019, saying the regulatory costs outweighed the benefits of being a publicly traded company.
Avanti was beginning to execute a new business strategy that focused on selling satellite capacity to other operators and the U.S. government instead of consumer broadband customers, a shift that was beginning to turn around five years of declining revenues.
In an interview, Avanti CEO Kyle Whitehill said that the company has cut operating costs by shedding 25% of staff since delisting, reducing the company to 240 employees.
“We still have a great business with significantly less people,” Whitehill told SpaceNews. “We had a lot of people deployed against hoping we could generate revenue in some areas, rather than putting our people into where we are generating revenue.”
Whitehill said the lower headcount, coupled with renegotiated equipment contracts, enabled the company to lower capacity prices and compete more effectively across its primary markets of Africa, Europe and the Middle ...