Sunday, June 24, 2012

Gogo Gains $135 Million Credit for In-flight Internet

Gogo has closed a $135 million credit facility through Morgan Stanley and J.P Morgan to support its in-flight connectivity and digital entertainment solutions. Gogo intends to use the debt financing to fund costs associated with its international expansion plans as well as other general corporate purposes.

Gogo recently announced a partnership with equipment provider AeroSat to deliver the satellite antenna, radome, antenna control and modem unit and high power transceiver. In addition to an equipment partnership with AeroSat, Gogo recently announced it has entered into a memorandum of understanding to partner with satellite operator SES that will allow Gogo to connect passengers over the U.S., Atlantic Ocean and Europe with a Ku-band system on commercial aircraft as early as the fourth quarter of 2012.

Gogo also recently announced that it has entered into a memorandum of understanding to be one of two global service providers of Inmarsat's Global Xpress Ka-satellite service. Working with Inmarsat, Gogo expects to begin testing of the Global Xpress Ka-aeronautical services after the launch of the first of the three Inmarsat-5 satellites, which is scheduled for mid-2013. Gogo expects to offer Global Xpress Ka-satellite service after the launch of all three I-5 satellites starting in late 2014 or early 2015.