Viasat posts record revenues

Viasat has revealed record Q1 fiscal year 2022.

Satellite Services revenue increased to US$274 million, a 36% increase YoY. Gains were partially driven by improving in-flight connectivity (IFC) service revenues as passengers return to air travel. In Commercial Networks Viasat saw the top line expand sharply by 77% YoY, totalling $119 million for the quarter. The main growth drivers were accelerating mobile terminal deliveries primarily in support of Delta Air Lines and their updated Wi-Fi service launch this year, as well as continued growth in its ground antenna systems business. Icelandair began flying its Viasat-equipped aircraft on transatlantic flights between the US and Europe

Viasat’s IFC business continued to recover both YoY and sequentially. The company’s airline partners returned more aircraft to service, with the number of active aircraft increasing to approximately 1,400 (on an installed base of 1,550 aircraft) at the end of Q1 FY2022, up over 80% YoY.