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14 Aug 2018 | 13:14

Avanti Communications banks $20m payment from Indonesia government

Avanti Communications Group confirmed that it had received the full $20.1m outstanding payment from Indonesia, related a positive ruling in the London Court of Arbitration.

'We thank the government of Indonesia for its payment of the outstanding sum ... following our earlier support of Indonesian satellite communications plans which utilised our now decommissioned Artemis satellite,' chief executive Kyle Whitehill said.

'With this issue resolved and HYLAS 4 about to come on-stream, Avanti goes forward.'

At 1:14pm: (LON:AVN) Avanti Communications Group PLC share price was +0.5p at 5.87p

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