Wednesday, June 21, 2023
Broadband
Alex Lowe

Rural UK ISP, Airband Community Internet is reported to be seeking new funding

Airband, a UK ISP focused on rural areas using a mix of fixed wireless (FWA) and a full fibre network (FTTP) is reported to be seeking a new funding source. The company has been going since 2009 and has a current target to feed 600,000 homes by 2025. According to a report from Sky News this week, Airband has reportedly brought in AlixPartners and Houlihan Lokey to help restructure the company and help find them additional funding.

Airband has been relying on government backed rollout contracts, such as Connecting Devon and Somerset (CDS) and Connecting Shropshire. Back in 2021, Aberdeen Standard Investments was brought on as a shareholder and provided a £100m debt package.

With a goal of providing broadband to 600,000 homes by 2025, the company has only done so to 200,000 homes based a recent press release.

The report from Sky News mentioned that Airband is looking to secure a “substantial injection of new capital.” With a plan in the works of the past few weeks. As of writing, Airband has not commented on this report from Sky News.

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