Existing Investors, Managers Pony Up The Extra Cash

Aircell has closed an additional $35M in financing with its existing investors and Aircell's management team, the company said in a news release Monday. 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," 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.

Aircell offers Internet connectivity on laptops, smartphones and PDAs on nine of the top 11 U.S. airlines and on nearly 6,000 business aircraft through its Gogo, Gogo Biz, and other services.

During 2010, Aircell reports that it achieved growth through diversified revenue from both the commercial and business aviation markets. By year end 2010:

• Gogo Inflight Internet Service was available on more than 1,050 commercial aircraft operating 3,800 flights daily in the U.S.
• In the business aviation market, Aircell had nearly 6,000 customers that operate a wide range of aircraft all over the world.
• With Bombardier Aerospace's selection of Aircell in October, communications systems are now available as original equipment at every major manufacturer in the business aviation industry. This encompasses nearly 40 factory aircraft programs all over the world.
• Aircell equipment is flying aboard the world's most prolific fractional ownership and charter fleets, including Flight Options, Flexjet, NetJets, XOJET, and others.
• In business aviation, Gogo Biz became the fastest-selling service in the company's history. Just over a year after availability, shipments and orders were already approaching 1,000 units.
• Leading companies such as Google, Hewlett Packard, Ford, Facebook, People.com and Skymall partnered with Aircell to bring Gogo access and special content to passengers.

Moving forward 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.

FMI: www.aircell.com