Three months after the coronavirus pandemic brought large swaths of the global economy to a near halt, Asia-Pacific satellite operators say they are still trying to identify a new normal.
APT Satellite reported a 14% revenue drop in 2019 as regional competitors with new satellites started taking market share.
Selling satellite capacity to television broadcasters and broadband network operators is no longer sufficient to support growth, according to several Asia-Pacific satellite operators.
APT Satellite says it has received $21 million in insurance payments for the partial failure of the Apstar-6 communications satellite in May 2018.
With two new satellites in orbit and a third on the way, APT Satellite of Hong Kong continues to grow, but company executives remain worried about Asia-Pacific market conditions.