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Azerbaijan to Make over $200M using AzerSky Satellite

During the next 12 years, Azerbaijan’s incomes from the operation of the AzerSky low Earth orbit (LEO) satellite will exceed $200 million, according to the Azerbaijani government’s forecasts.

The forecasts were included to a report on the work of the Cabinet of Ministers in 2015, which will be discussed by the Azerbaijani parliament March 15.

Earlier, Azerbaijan’s satellite operator AzerCosmos signed a loan agreement with Japan’s Sumitomo Mitsui Banking Corporation and Mizuho Bank Ltd. to get funds for the purchase of a terrestrial station to control AzerSky.

The loan amounted to 132 million euros.

The AzerSky satellite was handed over to Azerbaijan in line with an agreement inked Dec. 2, 2014 at the BakuTel exhibition by AzerCosmos and the Airbus Defence and Space.

Source: Trend
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