Spirit AeroSystems Holdings Inc
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Industrials : Aerospace & Defense | Small Cap Value
Company profile

Spirit AeroSystems Holdings, Inc. is a non-original equipment manufacturer (OEM), aircraft parts designer and manufacturer of commercial aero-structures. The Company is also a supplier of aero-structures. The Company operates through three segments: Fuselage Systems, Propulsion Systems and Wing Systems. The Fuselage Systems segment includes the development, production and marketing of forward, mid and rear fuselage sections and systems. The Propulsion Systems segment includes the development, production and marketing of struts/pylons, nacelles (including thrust reversers) and related engine structural components. The Wing Systems segment includes the development, production and marketing of wings and wing components (including flight control surfaces), and other miscellaneous structural parts. The Company's maintenance, repair and overhaul (MRO) services include repair stations that provide complete on-site repair and overhaul.

Premarket

Last Trade
Delayed
$43.75
-1.13 (-2.52%)
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Closing Price
$44.88
Day's Change
0.00 (0.00%)
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Volume
(Light)
Volume:
313

10-day average volume:
1,694,888
313

Viasat's Mobility Network in China Now Operational and Ready to Serve Airlines' In-Flight Connectivity Needs when Flying Into, Over and Out of China

8:00 am ET November 23, 2021 (PR Newswire) Print

In cooperation with China Satellite Communications, Co. Ltd. (China Satcom), Viasat Inc. (NASDAQ: VSAT), a global communications company, today announced the mobility network in China, which uses Viasat's innovative in-flight connectivity (IFC) equipment working over the Ka-band ChinaSat-16 satellite system, is now operational to meet the IFC needs of domestic and international airlines operating into and out of Chinese airspace.

With the network deployment now complete, tested and operational, Viasat and China Satcom are well-positioned to meet the growing IFC demands in China--the second largest aviation market in the world, according to research from the International Air Transport Association.

Successful network deployment means the network is ready to launch IFC services for Chinese airlines and can, very soon, enable Viasat's global airline customers to offer passengers a seamless roaming connectivity experience when flying into, over and out of China. The regional access in China to Viasat's IFC service means airline customers can choose to offer streaming videos or music, browsing the internet, access to social media, messaging and other apps -- just as they do in many other regions of the world.

"Working with China Satcom, we have achieved a great milestone-- delivering strong customer performance gains in terms of network speed and reliability at any phase of a flight, which provides an on-the-ground internet experience even when in-flight," said Don Buchman, Viasat's vice president and general manager, Commercial Aviation. "The effort committed to by both teams has been tremendous and showcases the capabilities of Viasat's industry-leading technology with China Satcom's satellite capacity."

In addition to optimizing passengers' connected experiences when in-flight, the Viasat network also enables airline customers to enhance passenger loyalty, improve operating efficiencies and increase revenue generating opportunities through ancillary content and application programs.

Viasat's agreement with partner China Satcom specifically covers commercial aviation IFC. In partnership, each company maintains its own intellectual property and will operate its equipment using a multi-layered approach to network services.

About Viasat Viasat is a global communications company that believes everyone and everything in the world can be connected. For 35 years, Viasat has helped shape how consumers, businesses, governments around the world communicate. Today, the Company is developing the ultimate global communications network to power high-quality, secure, affordable, fast connections to impact people's lives anywhere they are--on the ground, in the air or at sea. To learn more about Viasat, visit: www.viasat.com, go to Viasat's Corporate Blog, or follow the Company on social media at: Facebook, Instagram, LinkedIn, Twitter or YouTube.

About China SatcomChina Satcom, as a satellite operator, not only owns rich satellite resources and Basic telecommunications business license, but also is nominated by the Ministry of Industry and Information Technology (MIIT) as a first-class national team specialized in emergency communications. With making satellite communications and broadcasting services accessible to more social groups, China Satcom has long been committed to build a space-terrestrial integrated satellite communications system, providing reliable and secure satellite communications solutions to broadcast, telecom, corporate and government customers.

Forward-Looking StatementsThis press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. Forward-looking statements include statements about the agreement between Viasat and China Satcom; the use of the Ka-band ChinaSat-16 satellite system; seamless roaming connectivity when flying into, over and out of China; network performance gains; and benefits to airline customers and passengers. Readers are cautioned that actual results could differ materially and adversely from those expressed in any forward-looking statements. Factors that could cause actual results to differ include: risks associated with the construction, launch and operation of satellites, including the effect of any anomaly, operational failure or degradation in satellite performance, contractual problems, product defects, manufacturing issues or delays, regulatory issues, changes in relationships with, or the financial condition of, key suppliers, and technologies that do not perform according to expectations; technologies not being developed according to anticipated schedules, or that do not perform according to expectations, and increased competition and other factors affecting the aviation sector generally. In addition, please refer to the risk factors contained in Viasat's SEC filings available at www.sec.gov, including Viasat's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. Viasat undertakes no obligation to update or revise any forward-looking statements for any reason.

Copyright (C) 2021 Viasat, Inc. All rights reserved. Viasat, the Viasat logo and the Viasat signal are registered trademarks of Viasat, Inc. All other product or company names mentioned are used for identification purposes only and may be trademarks of their respective owners.

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View original content:https://www.prnewswire.com/news-releases/viasats-mobility-network-in-china-now-operational-and-ready-to-serve-airlines-in-flight-connectivity-needs-when-flying-into-over-and-out-of-china-301430553.html

SOURCE Viasat, Inc.

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