Agreement Signifies First Canadian Customer to Commit to Gogo 5G Fleetwide with Options to Upgrade Midsize Aircraft with Gogo Galileo HDX
LAS VEGAS, Oct. 17, 2023 /PRNewswire/ -- (NBAA-BACE, booth C9608) -- Gogo Business Aviation (NASDAQ: GOGO) today announced AirSprint Private Aviation, a leading Canadian fractional operator, will begin upgrading its Cessna Citation CJ3+ and Embraer aircraft to Gogo 5G—making it Gogo's first Canadian fleet customer.
"We strive to provide the highest level of service, and we are always looking for new and innovative ways to enhance our fractional owners' experience—seamless inflight connectivity (IFC) from Gogo was an easy decision," said James Elian, President & CEO of AirSprint. "Gogo's 5G system will allow us to provide the best-in-class IFC our owners expect."
Gogo 5G is expected to deliver speeds five to 10 times faster than current speeds, at approximately 25 Mbps on average, and 75-80 Mbps at its peak. Expansion of the Gogo 5G network in Canada will add significantly more time for inflight connectivity for operators flying in or through the country. Gogo is the only air-to-ground (ATG) company in business aviation with coverage in Canada and Alaska.
"AirSprint's selection of Gogo 5G reinforces the value of ATG connectivity for aircraft flying in North America that demand exceptional speeds," said Sergio Aguirre, president and chief operating officer of Gogo. "Coupled with Gogo's award-winning customer support, AirSprint customers will realize the superior performance of Gogo 5G on the industry's most reliable ATG network."
The agreement also includes options for AirSprint to upgrade its midsize aircraft with Gogo Galileo HDX, Gogo's Low Earth Orbit (LEO) global broadband solution, expected to launch in the second half of 2024. The Gogo Galileo product line is designed as an extension of the AVANCE platform to provide easy upgrade paths to new technologies and networks.
Any aircraft with an AVANCE product installed (L3, L5, LX5 or SCS), will only need to add the HDX antenna to the fuselage to access the benefits of LEO network technology. When coupled with Gogo 5G, customers will realize increased capacity and redundancy of coverage.
Gogo is the world's largest provider of broadband connectivity services for the business aviation market. We offer a customizable suite of smart cabin systems for highly integrated connectivity, inflight entertainment and voice solutions. Gogo's products and services are installed on thousands of business aircraft of all sizes and mission types from turboprops to the largest global jets, and are utilized by the largest fractional ownership operators, charter operators, corporate flight departments and individuals.
As of June 30, 2023, Gogo reported 7,064 business aircraft flying with its ATG systems onboard, 3,598 of which are flying with a Gogo AVANCE L5 or L3 system; and 4,433 aircraft with narrowband satellite connectivity installed. Connect with us at www.gogoair.com.
AirSprint Private Aviation is a privately-held company with offices in Toronto, Montréal and Calgary. AirSprint maintains the largest fractional fleet of private aircraft in Canada, a jet collection of Embraer Praetor 500, Embraer Legacy 450/500, Cessna Citation CJ3+ and Cessna Citation CJ2+ aircraft. AirSprint proudly flies Canadians from coast-to-coast, including service from Vancouver, Calgary, Edmonton, Winnipeg, Toronto, Ottawa, Montréal and the Maritimes. AirSprint provides discerning Canadians with a better choice for optimizing their time by enhancing the private jet ownership experience with industry-leading safety standards, exceptional turn-key service and increased flexibility; everything personalized for the Owners' individual travel needs. All at a fraction of the cost. AirSprint.com
Cautionary Note Regarding Forward-Looking Statements
Certain disclosures in this press release include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding our business and financial outlook, capital allocation strategy and plans and other financial and operating information. When used in this discussion, the words "anticipate," "assume," "believe," "budget," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "will," "future" and the negative of these or similar terms and phrases are intended to identify forward-looking statements in this press release.
Forward-looking statements reflect our current expectations regarding future events, results or outcomes, including the launch of AVANCE LX5 and Gogo 5G. These expectations may or may not be realized. Although we believe the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct. Some of these expectations may be based upon assumptions, data or judgments that prove to be incorrect. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainties and other factors. Although it is not possible to identify all of these risks and factors, they include, among others, our ability to develop and deploy Gogo 5G, Global Broadband or other next generation technologies; the ability of our subcontractor to remedy the error in the non-5G component of the chip, which has delayed the deployment of Gogo 5G to its expected launch date; our ability to deliver the expected performance capabilities of any new technology, including, without limitation, AVANCE LX5; and other events beyond our control that may result in unexpected adverse operating results.
Additional information concerning these and other factors can be found under the caption "Risk Factors" in our annual report on Form 10-K for the year ended December 31, 2022, as filed with the Securities and Exchange Commission on February 28, 2023, and in our quarterly reports on Form 10-Q as filed with the SEC on May 3, 2023 and August 7, 2023.
Any one of these factors or a combination of these factors could materially affect our financial condition or future results of operations and could influence whether any forward-looking statements contained in this report ultimately prove to be accurate. Our forward-looking statements are not guarantees of future performance, and you should not place undue reliance on them. All forward-looking statements speak only as of the date made and we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
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