Satellite operator Avanti’s shareholders & creditors give the company a year to make its case

by Peter B. de Selding

PARIS — Satellite fleet operator Avanti Communications received a $30-million cash lifeline from existing investors and a one-year extension of its $145-million senior secured debt in what Chief Executive Kyle Whitehill said is a vote of confidence that 2021 will be Avanti’s turnaround year.

Whitehill said London-based Avanti was on the cusp of signing multiple new contracts in late 2019 before these prospects essentially froze as the Covid pandemic hit.

Avanti was facing the Feb. 8 maturity of its senior secured facility:

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