New Round To Fund Continued Growth Strategy Of Aircell And Gogo Inflight Internet Service

More and more, people using business aviation depend on the ability to access the internet while in flight. In an effort to meet that growing demand, Aircell on Thursday announced the completion of the private placement of equity securities totaling $176 million to new and existing investors.  Proceeds of the financing will be utilized to provide funding for capital investments for network expansion and operating needs during this rapid growth phase of the business.
 
"We are proud to have the support of our existing investors and to be able to add new investors in the midst of the challenging global financing market," said Ron LeMay, Aircell President and CEO.  "This substantial capital raise is a strong endorsement of our business achievements to date.  Aircell is well positioned to continue its ongoing aircraft deployment and rapid acceleration in customer adoption of Gogo throughout 2010 and beyond."
 
Over the past year, Aircell has steadily increased the daily number of airplanes deployed with Gogo, and today is providing service on more than 700 commercial aircraft, with commitments from a total of nine airlines.

FMI: www.aircell.com