Azerbaijan’s Azercosmos OJSC earns $21.2M for 1H19

Tue 23 Jul 2019 12:09 GMT | 16:09 Local Time

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Azercosmos OJSC,Azerbaijan's satellite operator, earned $21.2 million for the provision of telecommunications and optical satellite services for the first half of 2019, Trend reports with reference to the company.

The company’s profit will be $45 million by the end of 2019, according to forecasts.

The company noted that its profit increased by 47 percent compared to the same period last year.

Almost all profit accounted for satellite services - 90 percent. The services were rendered to the US, France, Malaysia, the UK, Germany and the UAE. In the first half of this year, the company attracted new customers from nine countries, and its list of partners includes companies from a total of 20 countries.

More than 150 TV and radio channels broadcast via the company’s satellites have a total audience of more than 20 million people, according to the report.

After the launch of the second telecommunications satellite Azerspace-2 in February this year, Azercosmos has become a reliable operator in the regional satellite services market. The new satellite allowed the company serving customers from the US, the UAE and Tanzania.

Thirteen countries from the Baltic States, Central Asia and Eastern Europe, including Azerbaijan, used images of a satellite of remote observation of the Earth’s surface - Azersky. They were used for the needs of cartography, agriculture, ecology, land use and monitoring.

Two communications satellites, Azerspace-1, Azerspace-2 and the low-orbit satellite Azersky are under the jurisdiction of Azercosmos OJSC.

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