Gogo revised its expectations for 2020 and beyond, announcing updated goals as the company continues its drive towards profitability. Alas, details on those revised targets will not be shared with investors. CEO Oakleigh Thorne shared that the new math takes into account "more realistic expectations" of satellite costs and the shift to the airline-directed model. Assuming the new numbers are part of the Q3 '18 numbers they should help the company significantly, though there are indications some parts of the operation could revert to higher costs. The inability for global revenue to keep pace with growth in North America is also concerning given the company's current backlog.
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An asterisk on Gogo’s improving revenue numbers
Gogo posted better than anticipated numbers for Q2 '18 this morning, giving the company's share price a nice boost in early morning trading, though it has since given back some of the gains. The business aviation segment continues to lead the company's fortunes but some glimmers of success in the commercial segments are showing, too. So long as American Airlines is excluded from all considerations.
Gogo 2020 program aims for massive cost cuts
Gogo plans significant cost cuts as it seeks to shore up its financial position. Facing a financing crunch the company's "Gogo 2020" business plan unveiled this week will see hundreds of millions of dollars cut from cost side of the balance sheet as jobs and programs are dropped from the company.
New direction, new challenges for Gogo: Q1 18 numbers
Gogo management shakeup, part 2
Following the unexpected transition to a new CEO further management shakeup is hardly unexpected. Gogo took that step this week, announcing three new senior leadership positions in the company.
SmartSky goes after the little guys with LiTE connectivity
Smaller planes need WiFi, too. Upstart SmartSky launched its LiTE platform this week, targeting light jets and props with a flat-rate, unlimited high speed product.