McLEAN, Virginia — Satellite fleet operator Intelsat expects to report a slight increase in revenue for 2023 compared to 2022 and then to post about 5% average annual growth through 2026 as its mobility business, led by commercial aviation, grows at double-digit rates.
But the bigger news for Intelsat’s 2023 results is the reduction in debt by some 67%. The company entered the year with $5.8 billion in debt, or 5.4 times its adjusted EBITDA. By the end of 2023, debt will have dropped to $2.1 billion, or 2.3 times EBITDA.
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