Intelsat will purchase the Commercial Aviation business from Gogo for a “headline” price of $400 million. Intelsat’s attorney’s announced the deal as part of a hearing at the US Bankruptcy Court this afternoon.
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SkyFive makes major 5G inflight connectivity progress in China
SkyFive is betting big on inflight connectivity in China. The upstart air-to-ground (ATG) network infrastructure provider recently announced a Strategic Technology Partnership with Airbus. The partnership also includes China Mobile as the local mobile telecom provider.
Intelsat emerges as leading contender for Gogo’s Commercial Aviation business
We could learn the fate of Gogo’s Commercial Aviation (CA) business by the end of the month, assuming some details in a recent Intelsat bankruptcy filing play out. The latter filed for approval to increase its Debtor-in-Possession (DIP) funding as part of a transaction it hopes to consummate by 31 August.
Gogo execs to score big bonus payouts for CA sale
The 2020 bonus plans at Gogo will look a bit different than in prior years. A handful of executives are in line for a big score thanks to the planned sale of the Commercial Aviation segment, while regular employees now have a new target to realize their annual reward.
Gogo confirms "extensive" discussions to sell commercial airline inflight connectivity business
For more than two years Gogo teased the idea of splitting the company between its Commercial (airline) and Business (private) Aviation segments. The rumblings ebb and flow, but by mid-July the tone of the conversation was undeniable. Now the company confirmed the news. Gogo has retained outside advisors to assist with the formal process to “evaluate our strategic options” for the business.
Seeking a strategic use for Viasat’s $175 million raise
Was Viasat’s recent deal to secure $175mm in new capital just a matter of convenient timing? Or is there a specific plan for the cash? CEO Mark Dankberg got into some of the possibilities today, including potential inflight connectivity opportunities, while clearly leaving the door open for many more options to come.
Amazon commits $10 billion to Kuiper LEO constellation
What does it take to put a new low earth orbit (LEO) satellite constellation into service? The myriad technical challenges are not to be underestimated, of course, but a lot of it comes down to money. In the case of the Amazon Kupier project that’s a $10 billion commitment.
Gogo to trim headcount as recovery optimism weakens
Gogo is eliminating 143 fulltime positions, predominantly from the Company’s Commercial Aviation business. The move aims to “align the scale of its organization with current demand for aviation connectivity services” as the current industry downturn continues to impact its revenue, especially in the commercial aviation segment.
Connectivity: Splitsville
‘Tis the season for restructuring in the aviation world. And for one supplier a deal years in the making may finally be on the horizon.
Viasat raises $175 million in share sale
Viasat’s liquidity got a strong boost this week the company placed $175 million in shares through private transactions. The deal bolsters Viasat’s cash balance while not assuming additional debt, an important longer term factor for the company’s success.