Inmarsat faces relegation from FTSE 100
Inmarsat, the satellite communications group, is on course to lose its place in the FTSE 100 less than a year after joining the top flight index.
The company has run into a number of obstacles in recent months, including delays in completing its Global Xpress satellite network – which offers high-speed broadband services to customers such as airlines – following problems with the Russian Proton rocket launchers, according to The Guardian.
Earlier this month, it warned that revenues would be lower than expected, partly due to poor trading in its maritime business. It was also hit by news that International Airlines Group, the owner of British Airways, had picked US group Gogo to supply the airline with Wi-Fi services for transatlantic flights.
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