Global Eagle bought itself a few extra weeks. Literally. The company missed an $11 million interest payment on 9 July but negotiated an extension to the end of the month before it will be considered in default on the loan.
earnings call
Global Eagle’s cash crunch
The numbers for Global Eagle’s Q1 are not good. And with a narrow margin of liquidity before it is considered in default on its debt, the timing is tight.
Global Eagle faces additional financial challenges
With the deadline for filing its quarterly financials come and gone Global Eagle faces a number of challenges. Global Eagle now anticipates filing its earnings no later than 6 July 2020. And the contents of that filing are not expected to paint a pretty picture.
Viasat expands with Aeromexico, sees massive potential in LEO subsidies
Viasat reported its annual results Tuesday afternoon with record revenue. The company also announced a couple surprises, with a new wide-body airline customer for its inflight connectivity solution and a change of plans for its future satellite constellation.
Allegiant sees quick recovery on the horizon
As airlines around the globe debate just how long the travel downturn will be an unlikely outlier opinion was mooted this week from Allegiant. Company executives anticipate a quick bounce back of the leisure travel segment and particularly its specific niche market within the leisure traffic world, thanks to its unique customer base.
Past the bottom: Gogo sees demand returning and a potential to sell
January and February 2020 showed great promise for Gogo. New aircraft installations continued, particularly of the company’s 2Ku offering for commercial aircraft. And then the bottom fell out.
But the company sees a rebound on the horizon, and also possible a merger.
Temperature scans in, 767s out for Air Canada, Rouge
Air Canada will be the first airline in the Americas to require temperature screening of passengers prior to travel. The carrier will also retire 79 of its oldest planes, clipping the wings of its Rouge LCC arm.
United’s long-haul operations focus on a new "workhorse"
United Airlines is not formally retiring any aircraft yet, but the company hinted at what its future fleet will look like in a memo to pilots identifying where bases will close and aircraft will reposition.
Gogo looks to ride out coronavirus-related dip in demand
The final few months of 2019 delivered strong numbers for inflight connectivity provider Gogo. The company saw revenues improve in the business aviation and global segments while the North American market held up pretty well. Things continued looking good into early 2020. But since the beginning of March, similar to airline demand, Gogo saw a “significant decline” in Asia followed by a “more pronounced decline” in recent days.
Premium products, loyalty continue to drive Delta’s growth
lta Air Lines closed out 2019 much the way it started the year. Revenue is up and costs are mostly under control. Perhaps most important, however, is that the company is seeing gains in premium revenue and the SkyMiles loyalty program.