In-flight connectivity company Gogo says it has increased its long-term financial targets. Gogo supplies the business aviation community with broadband services by satellite.
As of June 30th 2021, Gogo reported 2,067 business aircraft flying with Gogo’s AVANCE L5 or L3 system installed, 6,036 aircraft flying with its ATG systems onboard, and 4,587 aircraft with satellite connectivity installed.
“Growth in private air travel continues to expand, fueling what we expect will be sustained growth in demand for inflight connectivity as customers seek to replicate their home and office connectivity in the air,” said Oakleigh Thorne, Chairman and CEO of Gogo. “That has driven record equipment sales at Gogo and is expected to generate growth in high-margin service revenue through our 2025 planning horizon. We recently updated our long-term financial model to reflect the impact of our plans to capitalise on these trends and we look forward to discussing them on our upcoming investor call.”
Those revised targets are significant: