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 Entertainment
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.
Airlines have plenty of reasons to be concerned as the cashflow crunch threatens their survival. So too, however, do the many smaller suppliers that deliver services to those airlines. What was mild trepidation at the beginning of the year, generally tied to the 737 MAX grounding is now, in some cases, a full-on threat to the survival of these businesses. And, unlike the airlines, these suppliers generally do not have the luxury of bailout funding from the federal government.
In part two of this report we explore the impact on Viasat, Thales, Inmarsat and Panasonic Avionics.
This was supposed to be a year of recovery and free cash flow and all sorts of other good news for an industry that spent the better part of the last decade hemmorhaging cash in search of market share. Turns out the global health pandemic cares not for borders nor those plans. Welcome to part one of a deep dive into the inflight connectivity world and the suppliers affected by this recent turn.
Adding more than 100 Turkish Airlines planes to its inflight connectivity backlog is good news for Global Eagle. Perhaps more significant, however, is the potential for additional program growth that come from the partnerships it established to secure this Turkish Airlines deal.
New cabins on the horizon for economy and business class, short-haul and long; might travel get more comfortable rather than less? Plus some good news for travelers looking to get online in the sky or earn free travel with their points.
Two weeks from now it will be permissible to use WiFi enabled devices on board aircraft in India, assuming the pilot agrees. But that doesn’t mean the systems will actually be available to use.
Air France will add sixty A220-300 aircraft to its fleet from September 2021. The planes will replace the carrier’s aging A318 and A319 aircraft. The carrier also announced plans to fully retire its fleet of ten A380s by 2022.
A long-awaited joint venture takes shape and live television takes flight on another fleet. Plus more legroom on a ULCC and better aircraft tracking in India.
Air France mid-haul passengers have more entertainment options, with France 24 content now live on connected aircraft.