Avanti Wins Deposit Refund From SpaceX

London-based Avanti Communications Group has won a $7.6 million refund of its launch deposit from SpaceX. The company had signed to launch its Hylas 1 Ku- and Ka-band satellite on a Falcon 9 rocket, but it shifted the comsat to an Ariane 5 after SpaceX fell behind on its schedule.

The satellite operator said in a statement:

“Avanti Communications Group plc (LSE: AVN), the satellite operator, announces that it has been successful in its claim against Space Exploration Technologies Corporation ruled upon under binding arbitration by the American Arbitration Association in New York. Avanti was awarded the full amount of refund it claimed under the contract, being $7,566,013 and was also awarded interest from the date of the claim.”

Hylas 1 was launched in November and began service earlier this month.