Gogo AVANCE LX5 Receives STC and PMA
BROOMFIELD, Colo., Dec. 20, 2023 /PRNewswire/ -- Gogo Business Aviation's (NASDAQ: GOGO) 5G program continues to gain momentum passing another critical milestone with the new AVANCE LX5 receiving Supplemental Type Certification (STC) and Parts Manufacturer Approval (PMA) from the Federal Aviation Administration (FAA).
"Receiving formal approval from the FAA to produce and manufacture the AVANCE LX5 Line Replaceable Unit (LRU) reaffirms our commitment to Gogo 5G as we march toward our launch date," said Sergio Aguirre, president of Gogo. "We built LX5 on the AVANCE platform as a smaller, single-box option to make the installation of Gogo 5G even easier for customers."
The first-article STC for the onboard 5G system was completed by Duncan Aviation's Engineering & Certifications Services team on a Citation Excel aircraft. Gogo's dealer network and OEM partners are actively pursuing multiple STCs that will certify the Gogo AVANCE LX5 system for installation across a variety of business aircraft models. Once the 5G chip is available, a minor STC modification will be required before customer installations of the LX5 can begin.
Gogo 5G is expected to provide ~25 Mbps on average, with peak speeds in the 75-80 Mbps range, outperforming any competitive geosynchronous (GEO) satellite or air-to-ground (ATG) solution. Intentionally engineered to deliver high throughput with very low latency for multiple users, Gogo 5G will meet the increased demand for data-heavy services and applications being used today and those coming in the future.
The LX5 was designed with the same form factor and same connections as the L5 to help streamline installation. Customers can pre-provision for Gogo 5G today by installing the multi-band (MB13) 5G antennas and an AVANCE L5 LRU. The L5 system will operate on the Gogo Biz 4G network until Gogo 5G launches, which is expected in the third quarter of 2024. At that time, they will be eligible to receive a free LX5 to swap with their existing L5 LRU.
The full network of authorized Gogo dealers and AVANCE installation rebate opportunities are available at www.gogoair.com.
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 September 30, 2023, Gogo reported 7,150 business aircraft flying with its broadband ATG systems onboard, 3,784 of which are flying with a Gogo AVANCE L5 or L3 system; and 4,395 aircraft with narrowband satellite connectivity installed. Connect with us at www.gogoair.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 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, August 7, 2023, and November 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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