By Oliver Griffin 
 

Inmarsat PLC (ISAT.LN) said Thursday that it partnered with Airbus SE (AIR.FR) to transform its Global Xpress network of satellite broadband.

The London-based satellite telecommunications company said it has selected Airbus's defense and space division as its satellite-manufacturing partner. The partnership will provide a step-change in Global Xpress's capabilities, capacity and agility, Inmarsat said.

Under the partnership, the two companies will build three next-generation Global Xpress satellites, with the first launch scheduled for 2023.

Inmarsat said the level of expenditure under the program is in line with its long-term planning and that, as a result, there is no change to its overall capital-expenditure guidance.

The company also said it is on track to achieve its objective of delivering annual Global Xpress revenue at a run rate of $500 million by the end of 2020.

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

(END) Dow Jones Newswires

May 30, 2019 02:31 ET (06:31 GMT)