There is an air of optimism, of relief emanating from the C-Suite at Global Eagle this week. And, to be sure, a realization that massive amounts of work remain for the company to truly succeed, but a conversation with CEO Josh Marks and President Per Noren suggests massive optimism now that the company’s interest payment burdens halve thanks to an agreement to convert debt to equity through the Chapter 11 bankruptcy filing made on Wednesday.
in-flight entertainment
Global Eagle secures $80 million DIP financing in Chapter 11 bankruptcy filing
Global Eagle will restructure and recapitalize under Chapter 11 of the US Bankruptcy code. Substantially all of the company’s assets are to be acquired for $675 million, reducing total debt by approximately $475 million. The deal also includes $80 million in fresh debtor-in-possession financing to ride out the current downturn.
Connections and Connectivity: The Weekly Wrap
This week we’re talking about a big new partnership connecting passengers JetBlue and American Airlines, as well as how Middle East Airlines will be getting connected with Panasonic Avionics.
The "new normal" of travel: FlightPlan survey reveals industry expectations
Traveling by air today brings a new set of challenges and concerns for passengers, but the means to address them remain scarce. A survey conducted as part of the Inmarsat/APEX FlightPlan event earlier this year reveals what industry executives believe the future holds. And follow-up conversations with some of those parties reveal how it might even get paid for.
MEA takes first A321neo, brings Panasonic Avionics WiFi on board
With delivery of its first A321neo last week Middle East Airlines (MEA) launches a new generation of inflight services. The carrier’s nine A321neo aircraft include personal seat-back entertainment screens and will be the airline’s first ever to offer inflight wifi connectivity on board. Panasonic Avionics was selected to provide these services.
Ka-band inflight connectivity goes live in China
New product launches are rare and a successful one in China even more so. But Qingdao Airlines now has Ka-band inflight connectivity online, powered by China Satcom, FTS and Gilat.
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.
Tap to pee: PXCom launches digital lavatory queuing option
A number of companies have teased the idea of virtual queue management for lavatory access to reduce passenger movement on board. Now PXCom delivers.
Burrana launches RISE, a new inflight entertainment (and more) platform
Launching an entirely new inflight entertainment platform is no small task. Doing in the face of a massive market retrenchment and global budget cuts adds to the difficulty. But Burrana is up to the challenge, introducing its RISE platform this week, with plans to deliver a new approach to the single-aisle market that is faster, lighter, and less expensive than the competition.
Don’t change the channel: Live TV grounded as airlines cut costs
Survey data and inflight behavior both suggest strong demand for live television on board. But a couple airlines are cutting the service, at least temporarily. And it is not just about saving money on the subscription costs.