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Azercosmos increases revenues by 4 times in 2020

03 April 2020 [18:00] - TODAY.AZ

By Azernews


By Ofeliya Afandiyeva

The revenues of Azerbaijan’s state-owned satellite operator Azercosmos - from commercial operation of satellites and telecom services - increased by 4.2 times year-on-year in January-February, amounting to $8.4 million, local media reported,

In January-February, Azercosmos services were exported to 22 countries. The bulk of the company's services in the reporting period fell to the United States ($4.5 million), the UK ($1.9 million), France ($1.3 million), the United Arab Emirates ($214 thousand) and Germany ($151 thousand).

Income from the export of services accounted for 90 percent of the total revenues of Azercosmos during the reporting period.

As it was previously reported, the earnings of Azercosmos OJSC from the commercial operation of satellites in 2019 amounted to $43.4 million.

Azercosmos is the only satellite operator in the Caucasus.

The first communication satellite of Azercosomos, Azerspace-1, was launched into geostationary orbit at 46 degrees east longitude on February 8, 2013. The launch of the satellite was carried out from the Kourou spaceport The first communication satellite of Azercosomos, Azerspace-1, was launched into geostationary orbit at 46 degrees east longitude on February 8, 2013. The launch of the satellite was carried out from the Kourou spaceport by the company Arianespace. by the company Arianespace. Presently, its service area includes countries of Europe, the Caucasus, Central Asia, the Middle East and Africa.

In addition, Azercosmos launched the new satellite Azerspace-2/Intelsat 38 on September 25, 2018

The satellite has been designed to provide a number of telecommunication services and will serve two operators - Intelsat SA and Azercosmos OJSC.

Today, Azerbaijan is a member of space satellite club with three satellites, long-term space industry development programs and infrastructure and strengthens its position in the global space industry market.

Recently, the country won the right to host the International Astronautical Congress in 2022.

URL: http://www.today.az/news/business/192618.html

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