Viasat Secures Jetstar Contract to Power In-flight Wi-Fi on 11 Boeing 787s
VSAT has more than doubled off its 52-week low of $7.953.
Summary
Viasat announced a new contract with Jetstar Airways to provide its AMARA multi-orbit in-flight connectivity solution for 11 of Jetstar's Boeing 787 Dreamliner aircraft. This significant win expands Viasat's presence in the aviation connectivity market, particularly for long-range international routes, and validates its next-generation platform. The deal, which includes installations through mid-2027, is a positive development for Viasat's Communications Services segment, building on recent positive financial results and product developments like the AERA ESA terminal. Traders will view this as a solid revenue-generating partnership that reinforces Viasat's competitive standing and could lead to further airline adoptions.
At the time of this announcement, VSAT was trading at $64.00 on NASDAQ in the Technology sector, with a market capitalization of approximately $8.5B. The 52-week trading range was $7.95 to $64.98. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.