Gogo is a leading provider of in-flight broadband connectivity and entertainment solutions, primarily serving the business aviation market. They offer a suite of services that integrate air-to-ground systems with satellite networks to provide consistent global connectivity. Following the acquisition of Satcom Direct, Gogo provides a range of connectivity solutions, utilizing both LEO and GEO satellite capacity, and partners with companies like OneWeb and Eutelsat. Key services include in-flight internet, voice solutions, and smart cabin systems for business and military aviation customers.
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Gogo sold the commercial aviation part of its company to Intelsat for $400,000,000.
Intelsat acquired part of in-flight connectivity provider Gogo while Chapter 11 obstacles were present.
Intelsat acquired Gogo's in-flight connectivity business as part of its consolidation efforts.
Intelsat acquired Gogo’s Commercial Aviation business as part of its investment into the service business.
Intelsat acquired Gogo Commercial Aviation in September for $400,000,000.
Intelsat announced plans in September to purchase Gogo’s Commercial Aviation in-flight connectivity business.
Intelsat has vertically integrated into the in-flight connectivity business following its acquisition of Gogo.
The acquisitions of Bigblu Broadband by Eutelsat in July 2020 and Gogo by Intelsat in September 2020 highlight the trend of vertical integration in the FSS industry.
Intelsat is proceeding with a Chapter 11 restructuring while acquiring Gogo’s commercial aviation business and contracting for new satellites and ground equipment as part of the C-band spectrum clearing process.
Intelsat plans to acquire the commercial aviation business of Gogo, an inflight Wi-Fi provider that competes with Viasat.
Gogo reported $135,500,000 in revenue from its Commercial Aviation business in 2019.
Intelsat received approval from the U.S. Bankruptcy Court for the Eastern District of Virginia on 2020-08-31 to proceed with buying Gogo’s Commercial Aviation business.
Gogo will use proceeds from the sale of its Commercial Aviation business to pay down debt and invest in growth opportunities such as 0.005 kg for aircraft.
Intelsat is purchasing Gogo’s Commercial Aviation business for $400,000,000.
Gogo’s Commercial Aviation business reported a $37,300,000 loss for April, May, and June, including a $26,700,000 international loss and a $10,600,000 domestic loss.
Gogo provided roughly 260 air-to-ground towers that will be available exclusively to Intelsat for commercial aviation customers for 10 years as part of the acquisition.
Gogo renegotiated satellite capacity contracts in March 2020 to align with reduced travel.
Gogo avoided issuing financial guidance in March 2020 and sought price concessions on satellite capacity leases as airlines grounded flights amid travel bans.
Gogo has $845,800,000 in satellite transponder and teleport services under contract, of which $141,300,000 are payable in 2020.
Gogo reported a net loss of $146,000,000 on $835,700,000 in 2019 revenue.