Azercosmos earns almost $300M from 3 satellites

During its ten years of commercial activity, Azercosmos has received an income of 500 million manats (just under $294.25 million) from the services of Azerspace-1, Azerspace-2 and Azersky satellites, the Chairman of the Board of the Azerbaijan Space Agency (Azercosmos), Sameddin Asadov, told Report.

Asadov noted that the income of Azercosmos is steadily growing:

"Currently, Azerbaijan, with Azerspace-1 and Azerspace-2 telecommunications satellites and the Azersky observation satellite, occupies a special place among countries with space satellites. For ten years, the cost of satellite services in the world market has been unstable due to economic and geopolitical activities. However, against the backdrop of these changes, the revenues of Azercosmos are steadily growing.

The goal for the coming years is to maintain the dynamics of income growth using the resources of our satellites," he said.