Dubai, UAE – Yahsat Government Solutions (YGS), the government services arm of Yahsat has been awarded $5.1 billion satellite capacity and managed services mandate by the UAE Government for a period of 17 years.
The contract will involve providing the UAE Government with secure and reliable satellite capacity and related managed services using the Al Yah 1 and Al Yah 2 satellites already in orbit, along with two new satellites, Al Yah 4 (AY4) and Al Yah 5 (AY5), expected to launch in 2027 and 2028, respectively.
The development reinforces Yahsat’s long-standing partnership with the UAE Government, extending back nearly two decades since the company’s inception.
The contract boosts the Group’s contracted future revenues to AED 25.7 billion (USD 7.0 billion), providing financial stability and visibility well into the future.
Yahsat has signed an Authorization-to-Proceed with Airbus for the construction of AY4 and AY5, preserving the program schedule and allowing for key activities to commence.
Funding for these new satellites will come from Yahsat’s resources and other potential funding options, including an advance payment of USD 1 billion from the Government in 2024.
Musabbeh Al Kaabi, Chairman of Yahsat, expressed gratitude for the trust of the UAE Government and emphasized the company’s commitment to delivering secure communication services.
Ali Al Hashemi, Group Chief Executive Officer at Yahsat, highlighted the financial strength of the organization and its optimism about offering advanced solutions to both the government and customers.