Riding the wave of business aviation recovery, in-flight connectivity provider Gogo is on a mission to make sure the world knows it is a successful business. And one that believes its stock should be trading at a higher price.
Oakleigh Thorne
Gogo sees strong growth, 5G network remains on track
As with most earnings calls Gogo’s latest ran through myriad statistics and reporting metrics. But, unlike most service providers, CEO Oakleigh Thorne chose to celebrate a massive drop in network consumption over the past 4 years. And for good reason.
Gogo hits 5G installation milestone
The next generation of Gogo’s air-to-ground in-flight connectivity network is taking shape. The company announced a number of development milestones this week, including installation of the first ground tower infrastructure and test flights.
Gogo prices new debt, anticipates huge savings
Gogo announced its long-awaited debt refinancing deal this afternoon, a move that should deliver huge savings for the company. The move allows the company to retire a billion dollars of high-interest debt, reducing both the total leverage and the rate paid.
GTCR boosts Gogo stake
GTCR, a leading private equity firm, will convert all of its $105.7 million principal amount of Gogo’s 6.0% Convertible Senior Notes due 2022 into shares of Gogo’s common stock. The deal will see GTCR receive 19.1 million shared of Gogo stock, giving the company a 28.6% ownership stake in Gogo.
Gogo slips 5G to 2022, sees smooth upgrade path
Officially slipping the Gogo 5G network into 2022 from this year is not great news, but Gogo’s overall finances emerged from 2020 stronger than expected and the next 5 years should complete the transformation.
Executive shuffle atop Gogo
Gogo President and CEO Oakleigh Thorne will fill another leadership role at the company starting Friday. He takes over as Chairman of the Board of Directors as Ronald LeMay retires at the end of the year.
Intelsat closes on Gogo Commercial Aviation buyout
Gogo is officially out of the commercial aviation in-flight connectivity business. The company closed its $400 million cash transaction with Intelsat early Tuesday morning, making good on a promise from two weeks ago to complete the deal in early December.
Gogo sees strong BizAv driving recovery
The business aviation segment shows strong signs of recovery, leading inflight connectivity provider Gogo to a certain amount of optimism as it reports Q3 earnings. The company still lost money in the quarter, but with the private jet market rebounding and demand for wifi on board holding strong, CEO Oakleigh Thorne sees an “encouraging, continued service recovery” on the horizon.
Intelsat to buy Gogo Commercial Aviation for $400 million
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.