The Viasat Company, which is a satellite broadband company, has laid-off workers and has stopped hiring new employees, and this is a methodology that has helped the Company cut its costs to decrease the pressure being felt from the outbreak of the coronavirus from a severe descent in air travel.
Another thing to note is that it is looking into chances with the Low Earth Orbit satellites that could place the Company to take part in the American Rural Digital Opportunities Fund.
The Viasat Company which supplies communication network to many jets, cut off about three hundred people of the task force and it is succumbing through a sequence of other absences in the places that are being affected in the near-term, the acting president of Viasat Company confirmed this.
When we look in terms of how they save up on cost, it assists in reimbursing for the financial outcome on the connectivity for the flights coming in Viasat, and it also helps enterprises fixed to the COVID-19 pandemic. The Company finished the quarter with around 1300 aircraft that are in service through the flights that are coming in, which are commercially based.
The acting Chairman of the Company Mark Dankberg quoted that because of the impact being experienced in the flights, there is less urge for work in that area of which that particular area is where the costs will be reduced.
In an investor letter it was recorded that the Company is also decreasing the costs to assist in sustaining the schedule for Viasat-3, this a constellation of satellites that will allow the Company to deliver worldwide communication network coverage, according to its initial idea, the first satellite of the Viasat-3 was prepared to launch in 2021 to serve the U.S citizens, and then months later another one which will help Europe, the Middle East, and Africa. And the last one will cover the Asian region, and it is set to go off in 2022
The Company is weighing on constructing a set of over 200 satellites that are LEO-based, which could give communication network services at lower latencies to be eligible for the 20 billion worth of subsidies that is up for grabs in the next ten years.
Even though the FCC proposed that satellites with lower latency bidding be excluded, Viasat believes they are qualified with their satellites.
In terms of finance, Viasat quoted that it anticipates a growth in the fixed-satellite communication network to continue as more consumers task or learn from home alongside a decrease in satellite services of the TV that are being paid for that is being outshined by broadband that is being provided by the OTT video options.