ViaSat Secures Icelandair Deal For Inflight Wi-Fi On New Airbus Fleet
Portfolio Pulse from Nabaparna Bhattacharya
ViaSat, Inc. (NASDAQ:VSAT) has been selected by Icelandair to provide inflight Wi-Fi for its new Airbus SE (OTC:EADSF) fleet, set to be delivered in Q4 2024. This deal marks Icelandair's first use of Airbus aircraft and will cover routes between Iceland and Europe, as well as transatlantic flights. ViaSat's satellite connectivity will offer streaming and real-time productivity tools. Additionally, ViaSat secured a contract last month from Northrop Grumman Corporation (NYSE:NOC) for the U.S. Air Force Research Laboratory's 'Global Lightning' program. VSAT shares dropped 1.74% to $18.09.
March 05, 2024 | 3:23 pm
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Icelandair selects Airbus SE (EADSF) for its new fleet, marking its debut with Airbus aircraft, to be equipped with ViaSat's inflight Wi-Fi.
The selection of Airbus SE by Icelandair for its new fleet, equipped with ViaSat's inflight Wi-Fi, represents a positive development for Airbus, showcasing its continued relevance and competitiveness in the aviation market. This could positively influence Airbus's market perception and potentially its stock in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Northrop Grumman Corporation (NOC) awarded ViaSat a contract for the U.S. Air Force's 'Global Lightning' program last month.
The contract awarded to ViaSat by Northrop Grumman for the 'Global Lightning' program underlines Northrop Grumman's strategic initiatives in defense and space internet technologies. This collaboration with ViaSat could enhance Northrop Grumman's offerings and reputation in the defense sector, potentially benefiting its stock in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 70
POSITIVE IMPACT
ViaSat secures a deal with Icelandair for inflight Wi-Fi on new Airbus fleet and also lands a contract with Northrop Grumman for a U.S. Air Force project.
The partnership with Icelandair for their new Airbus fleet and the contract from Northrop Grumman for the 'Global Lightning' program are significant achievements for ViaSat, indicating strong business growth and expansion in aviation connectivity. However, the short-term stock price reaction is negative, likely due to market conditions or other external factors not detailed in the news.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100