CARLSBAD, Calif. - Viasat Inc. (NASDAQ: VSAT), a prominent satellite communications company, announced today a series of enhancements to its Jet ConneX service, aiming to improve the in-flight connectivity experience for business aviation. The newly introduced JetXP program promises to deliver major performance upgrades including uncapped speeds, expanded capacity, and increased network prioritization for its customers.
The move comes after Viasat conducted extensive customer consultations and analyzed usage trends, leading to the development of the JetXP enhancement program. This initiative is currently in trial phases with hundreds of existing customers and is designed to address the evolving expectations in business aviation connectivity, shifting focus from mere speed to the overall quality of the experience.
Early feedback from trials indicates a significantly improved user experience across various applications such as file transfers, streaming, and web browsing. These enhancements are part of Viasat's commitment to offering a defined quality of experience, ensuring reliability across different applications, devices, and flight routes.
Kai Tang, Head of Business Aviation at Viasat, highlighted that JetXP represents a new approach to in-flight connectivity, moving away from traditional speed-based plans which often fail to deliver consistent performance. He emphasized that the program's success is backed by data from real operators on Viasat's live network.
The JetXP program also signifies the integration of Viasat's and Inmarsat's resources following their merger in May 2023. Viasat's acquisition of Inmarsat has allowed the company to leverage combined expertise and technology to enhance its service offerings.
Viasat's in-flight connectivity services are currently active on over 5,000 business jets, accounting for more than 70% of the satellite-connected market. The company assures customers of ongoing capacity enhancements and advanced equipment upgrades.
This announcement is based on a press release statement and reflects the company's efforts to meet the changing demands of business aviation connectivity. As the industry continues to evolve, Viasat's Jet ConneX customers can expect a more reliable and consistent in-flight internet experience.
In other recent news, Viasat Inc. has made several significant moves. The company has issued $1.975 billion in senior secured notes with a 9.000% interest rate, maturing on September 15, 2029. Furthermore, Viasat has secured a $33.6 million contract from the U.S. Air Force Research Laboratory for the development of Active Electronically Scanned Array systems. On the financial front, Viasat's revenues have tripled to $4.5 billion under the stewardship of Shawn Duffy, who will continue as Chief Accounting Officer after stepping down as CFO.
Viasat has also formed strategic alliances with Airbus Defence and Space, and Azercosmos, the national satellite operator of Azerbaijan. Analysts have offered mixed reviews on the company's stock, with Deutsche Bank reiterating its Hold rating and JPMorgan downgrading Viasat from Overweight to Neutral, following United Airlines' decision to transition its In-Flight Connectivity services from providers including Viasat to Starlink.
These are among the recent developments for Viasat, as the company continues to navigate the competitive landscape of the global communications industry.
InvestingPro Insights
Viasat's recent announcement of enhancements to its Jet ConneX service comes at a critical time for the company, as revealed by InvestingPro data. Despite the company's efforts to improve its offerings in the business aviation sector, Viasat faces significant financial challenges.
According to InvestingPro Tips, Viasat is currently operating with a significant debt burden and is quickly burning through cash. This financial strain may explain the company's push to enhance its services and potentially increase revenue streams. The company's revenue growth of 67.71% over the last twelve months suggests that these efforts may be paying off, although profitability remains a concern.
InvestingPro data shows that Viasat's market capitalization stands at $1.4 billion, with a price-to-book ratio of 0.28 as of the last twelve months ending Q1 2025. This low P/B ratio, coupled with the InvestingPro Tip that the stock is trading near its 52-week low, indicates that the market may be undervaluing Viasat's assets, including its newly enhanced Jet ConneX service.
The company's focus on improving its in-flight connectivity offerings aligns with its need to boost financial performance. With an operating income margin of -14.41% over the last twelve months, Viasat's strategic moves in the business aviation sector could be crucial for turning the tide.
Investors considering Viasat should note that while the company faces challenges, analysts predict it will be profitable this year, according to an InvestingPro Tip. This projection, combined with the company's efforts to enhance its services, may signal potential for recovery.
For those interested in a deeper analysis, InvestingPro offers 14 additional tips for Viasat, providing a more comprehensive view of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.