The
Airline industry experiences a setback globally whenever an airline accident
occurs. Similarly, commercial aircraft manufacturers also experience the
ramification of this setback. The United Kingdom firm Inmarsat plc. Recently expressed
that the small income it generated from its tracking fees wasn’t worth the
headache of seeing airlines fly without tracking devices. It appears as if
Inmarsat will be providing tracking devices to all commercial airlines for
free. It has also impact the Airlines such as American Airline stock.
Inmarsat
enjoys a virtual monopoly when it comes to satellite-based aircraft tracking
manufacturing and services. Almost all commercial aircrafts in the world are
tracked by London-based firm through its specially designed trackers. This
includes the Airbus and The Boeing Company. Due to its unique set of services
and manufacturing capabilities Inmarsat, registered as ISAT on the London Stock
Exchange, has a turbulent stock graph. The website bidnessetc.com has done well
to thoroughly explain safe bets for investment in the aircraft manufacturing
business. Bidnessetc.com also gives a decent neutral opinion on market trends
in the airline industry.
The
recent unfortunate loss of MH370 (Malaysian Airlines) created a whirlpool of
controversy in the commercial aircraft manufacturing industry. The accident
highlighted the unsettling truth that not all commercial aircrafts were
equipped with high-tech tracking devices and that many strong steps needed to
be made in order to consolidate secure air travel.
Inmarsat,
a crucial part of the commercial aircraft manufacturing industry, began its
operations as a non-profit corporation under the United Nations. It provided
geostationary satellite services to aircrafts. These services also included aircraft
tracking. The company was ultimately privatized and now operates on profits.
Today, 28% of the Inmarsat is owned by the Harbinger Group Inc.
The
investment wing of the company is led by investor Philip Falcone, a shark
always ready to battle for a greater territory and dominance in the ocean. The
embattled investor was up to convincing the Obama administration to permit
satellite LTE during 2011 and 2012. Well, his scheme failed and it was probably
for the best since the satellite LTE would have disastrous effect on GPS,
causing 75% of it in the world to malfunction. Falcone caused a quite a storm
and is currently facing corruption and fraud charges, although he is a special
on of Washington.
Inmarsat
took a big blow due to Falcone’s defamation and alleged involvement in
corruption and fraudulent activities. Inmarsat’s plan to sell Airbus and Boeing
tracking devices and keep them running for additional fees was another
upsetting factor for onlookers. Inmarsat’s confession that it could even track
its disabled devices led to another outcry and the situation quickly turned
into a matter of national security with piercing eyes coming from the Obama
administration. Inmarsat’s reputation
has been in a steady decline since and the UK firm is trying to improve its
image.
The
loss of MH370 made Inmarsat realize that it cannot go through another similar
episode. Inmarsat stopped tracking MH370 due to non-payment of service fees.
Now, Inmarsat has announced that it will simply provide tracking services for
free to all commercial aircrafts.
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