Global Eagle, now known as Anuvu, is a provider of satellite-based connectivity and entertainment services, primarily serving the aviation and maritime markets. The company offers solutions such as broadband connectivity, inflight entertainment, and media content to airlines, cruise lines, and other mobility markets. Anuvu also provides satellite services, leveraging its position as a satellite lessor in the industry. Keywords associated with the company include satellite connectivity, inflight entertainment, maritime connectivity, and media content distribution.
All verified mentions of this organization in source documents.
Anuvu was previously known as Global Eagle Entertainment and collapsed into bankruptcy in July 2020 after the COVID-19 pandemic greatly reduced core airline and cruise line activities.
Lenders rescued Anuvu (formerly Global Eagle Entertainment) in 2021 and the company subsequently ordered its own satellites to reduce reliance on leased capacity.
Anuvu, formerly known as Global Eagle, filed for Chapter 11 in July 2020 and has since exited with private funding.
The new owners of Global Eagle Entertainment invested around $218,000,000 in the business to strengthen its balance sheet.
Around half a dozen of Global Eagle Entertainment’s lenders took control of the company on 2021-03-23, shedding about $488,000,000 of its debt.
Global Eagle Entertainment provides media services and satellite Wi‑Fi to aircraft, boats, and remote locations.
Global Eagle Entertainment reported close to $1,100,000,000 in debt when it filed for bankruptcy protection in July 2020.
Access to end customers is identified as a key competitive factor that may require SES to allocate C-band proceeds to acquire a large service provider such as Global Eagle or Speedcast or to continue expanding its service business.
Global Eagle used satellite capacity to connect 1,022 active aircraft and 440 active cruise ships, ferries, and yachts in 2019.
Global Eagle Entertainment is based in Los Angeles and has close to $1,100,000,000 in debt.
Global Eagle expects to emerge from bankruptcy by the end of 2020 with $475,000,000 less debt.
Global Eagle reported a $153,000,000 loss in 2019 and experienced negative cash flows compounded by its debt.
Around half a dozen of Global Eagle’s lenders have agreed to form a joint entity to acquire Global Eagle’s main assets for $675,000,000.
The lenders will provide Global Eagle with $80,000,000 of debtor-in-possession financing to continue operations during the sale process.
Global Eagle had $630,500,000 in assets and 1,115 employees at the time of its bankruptcy filing.
Global Eagle’s future owners intend to provide a $125,000,000 credit facility as exit financing upon completion of its restructuring.
Global Eagle’s top unsecured creditors include SES ($26,600,000), Intelsat ($9,800,000), Yahsat ($3,600,000), Hughes Network Systems ($3,100,000), Telesat ($2,500,000), Arabsat ($1,000,000), and AsiaSat ($960,000).
Emerging Markets Communications was acquired by Global Eagle (Global Entertainment) in 2016 for $550,000,000.
CFIUS thwarted a $416,000,000 investment in satellite connectivity provider Global Eagle from Beijing Shareco Technologies in 2017.
Gilat tested one of its modems with Global Eagle Entertainment and Telesat in October.