Tuesday, January 13, 2009

Airvana Comments on Nortel Bankruptcy

Airvana, said that it has been informed by Nortel that normal operations will continue under their existing partnership. Specifically, Nortel will continue to purchase goods and services from the company and that Airvana is a long term partner and a key supplier to Nortel, playing a vital role in its ability to continue serving the needs of its CDMA EV-DO customers as a significant part of its ongoing operations and future success. Future purchases would be under the terms of Nortel's current agreement with Airvana.

Airvana currently has outstanding receivables with Nortel in the amount of $22 million for products and services billed. In addition, there are unbilled products and services which were delivered in December 2008 through the date of Nortel's bankruptcy filing. Collection of these receivables will be subject to Nortel's bankruptcy proceedings.

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