Inmarsat Stock Up On Contract To Provide GX For Aviation To Austrian Airlines

(RTTNews) - Shares of Inmarsat (ISAT.L) were gaining around 3 percent in the morning trading in London after the provider of mobile satellite communications announced Friday a new contract with Austrian Airlines.

Under the deal, Inmarsat agreed to provide its advanced new GX for Aviation in-flight broadband solution to Austrian Airlines' continental aircraft fleet.

More than 30 Airbus A320 family aircraft from Austrian Airlines' fleet will be equipped with GX for Aviation, the world's first in-flight connectivity solution.

The company noted that the advanced new service will allow the airline's passengers to browse the internet, stream videos, check social media and more.

The first installation and testing onboard Austrian Airlines aircraft is currently underway.

The Austrian Airlines contract is part of a 10-year strategic agreement announced last year between Inmarsat and the Lufthansa Group, which included the selection of GX for Aviation for Lufthansa's European continental fleet of over 150 aircraft.

In London, Inmarsat shares were trading at 747.50 pence, up 3.39% percent.