With the launch of high-speed satellite broadband on commercial flights, Inmarsat ought to be flying high.
Airlines are tripping over themselves to kit out jets with wi-fi. From BA owner IAG to Lufthansa, they are all racing to install the networks that will allow passengers to watch films, shop online and post Facebook status updates at 35,000ft.
With contracts and commitments to hook up 1,300 planes, and a pipeline of about 3,000, Inmarsat should be on a roll, thanks to its network of 13 satellites. Yet its share price has almost halved since the late 2015 peak. Last year the satellite company was ousted from the FTSE 100, and it ended last week at 594.50p, valuing the company at £2.76bn. At that level it could