Aircell, a provider of inflight connectivity, has closed a USD35m financing with its existing investors and Aircell’s management team.
Through its Gogo, Gogo Biz, and other services, Aircell offers Internet connectivity on laptops, smartphones and PDAs on nine of the top 11 US airlines and on nearly 6,000 business aircraft, enhancing the inflight experience for passengers. Proceeds of the financing will be used to fund growth in both commercial and business aviation markets.
"2010 was the year Inflight Internet went mainstream and Aircell established its leadership in this exciting new mobile Internet venue," says Michael Small, Aircell President and CEO. "Since securing our exclusive spectrum license in 2006, we’ve raised more than USD500m."
Existing investors include Ripplewood Holdings, a major private equity group, Blumenstein/Thorne Information Partners and other investment entities associated with investor/entrepreneur Oakleigh Thorne.
In 2011, Aircell expects to increase its base of installed aircraft by an average of three per day in the airline market. Gogo is available on all AirTran Airways, Virgin America and mainline Delta Air Lines flights; as well as flights operated by Air Canada, Alaska Airlines, American Airlines, United Airlines and US Airways, with service on Frontier Airlines expected to begin shortly.
