About the Post

Author Information

Wendy is an IFE Agent responsible for aggregating airline news specifically related to Inflight entertainment. She compiles stories relevant to business travelers, airline industry folks, marketers and tech geeks. IFE News doesn't create original content, but rather posts compelling editorial from global media outlets.

Gogo in no Rush for Planned IPO Ads by Google

By Walin Wong

In-flight WiFi provider Gogo is in no rush to go public after filing to do so late last year, Chief Executive Michael Small said Tuesday.

The Itasca-based company filed initial public offering documents in December, but Small told attendees at the TechWeek conference at Merchandise Mart that he feels the IPO market has “definitely chilled.” He noted that Gogo just closed $135 million in debt financing “so we don’t have to do an IPO.”

The debt financing will allow the company to continue building new technologies. It is preparing to launch a new air-to-ground system that will deliver a threefold increase in speeds and more bandwidth, covering 75 to 90 percent of a plane’s passengers versus 25 to 30 percent today, Small said.

This system should roll out later this year and be more fully deployed in 2013, as it is still pending certification from the Federal Aviation Authority.

Gogo is also making a foray into satellite technology, which is needed for flights that travel over water. Global air travel is a major opportunity and satellite technology, while still three to four times the cost of Gogo’s air-to-ground systems to install, is “becoming more viable every day,” Small said.

 

Link to Original Article

Tags: , , ,

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: