Aircell Raises $35 Million For Inflight Wi-FiBy: Mike Sachoff - February 7, 2011
Aircell, the company that provides Gogo inflight Internet service, said today it has raised $35 million in financing with its existing investors.
Aircell offers Gogo on nine of the 11 major U.S. airlines and on nearly 6,000 business aircraft. 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," said Michael Small, Aircell President and CEO.
"Since securing our exclusive spectrum license in 2006, we’ve raised more than $500M."
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.