NetJets

Gogo Announces Fourth Quarter and 2023 Results

Retrieved on: 
Wednesday, February 28, 2024
CFO, Internet, LTE, ATG, Classic, Go go, FCC, Risk, AVANCE, AOL, Free cash flow, Aviation, Form 10-K, Investment, Original equipment manufacturer, ID, Secure, Federal Communications Commission, ESG, Government, Adjustment, Annual report, Pandemic, Galileo Galilei, Climate change, Attention, ARPU, Capital expenditure, GAAP, NetJets, Chairperson, Infection, Public expenditure, Security (finance), Failure, Software, Cryptocurrency

BROOMFIELD, Colo., Feb. 28, 2024 /PRNewswire/ -- Gogo Inc. (NASDAQ: GOGO) ("Gogo" or the "Company"), the world's largest provider of broadband connectivity services for the business aviation market, today announced its financial results for the quarter ended December 31, 2023.

Key Points: 
  • Total Revenue of $97.8 million, down 10% Year-over-Year; Record Fourth Quarter Service Revenue of $80.9 million, up 5% Year-over-Year
    Q4 Net Income of $14.5 million; Adjusted EBITDA(1) of $35.1 million
    BROOMFIELD, Colo., Feb. 28, 2024 /PRNewswire/ -- Gogo Inc. (NASDAQ: GOGO) ("Gogo" or the "Company"), the world's largest provider of broadband connectivity services for the business aviation market, today announced its financial results for the quarter ended December 31, 2023.
  • Average Monthly Revenue per ATG aircraft online ("ARPU") of $3,387, compared to $3,370 in Q4 2022 and $3,373 in Q3 2023.
  • Cash provided by operating activities of $26.2 million in Q4 2023 decreased from $31.5 million in the prior year period.
  • Cash, cash equivalents and short-term investments totaled $139.0 million as of December 31, 2023 compared to $110.8 million as of September 30, 2023.

NetJets Signs New Connectivity Agreement Extending 20-Year Relationship with Gogo

Retrieved on: 
Wednesday, February 7, 2024
Partnership, Travel, AVANCE, LEO, NetJets, L3, GEO, SCS, Data-rate units, Gogo Business Aviation, FDX, Aircraft, HDX, Nightclub

BROOMFIELD, Colo., Feb. 7, 2024 /PRNewswire/ -- NetJets has reached an agreement with Gogo Business Aviation (NASDAQ: GOGO) that provides NetJets the ability to upgrade their U.S. aircraft to Gogo AVANCE L5, Gogo 5G, and Gogo Galileo, the company's Low Earth Orbit (LEO) broadband satellite service. NetJets Owners in Europe will also have the benefit of Gogo Galileo.

Key Points: 
  • NetJets to Install Gogo AVANCE, 5G, and Global Broadband
    BROOMFIELD, Colo., Feb. 7, 2024 /PRNewswire/ -- NetJets has reached an agreement with Gogo Business Aviation (NASDAQ: GOGO) that provides NetJets the ability to upgrade their U.S. aircraft to Gogo AVANCE L5, Gogo 5G, and Gogo Galileo, the company's Low Earth Orbit (LEO) broadband satellite service.
  • NetJets Owners in Europe will also have the benefit of Gogo Galileo.
  • "Gogo is excited to continue our long-term partnership with NetJets," said Sergio Aguirre, Gogo's president and chief operating officer.
  • Throughout the 20-plus year relationship with the worldwide leader in private aviation, Gogo has created features such as over-the-air software updates to address NetJets' specific operational needs while also providing services like Gogo Vision to improve the inflight connectivity experience.

NetJets Signs New Connectivity Agreement Extending 20-Year Relationship with Gogo

Retrieved on: 
Wednesday, February 7, 2024
Partnership, Travel, AVANCE, LEO, NetJets, L3, GEO, SCS, Data-rate units, Gogo Business Aviation, FDX, Aircraft, HDX, Nightclub

BROOMFIELD, Colo., Feb. 7, 2024 /PRNewswire/ -- NetJets has reached an agreement with Gogo Business Aviation (NASDAQ: GOGO) that provides NetJets the ability to upgrade their U.S. aircraft to Gogo AVANCE L5, Gogo 5G, and Gogo Galileo, the company's Low Earth Orbit (LEO) broadband satellite service. NetJets Owners in Europe will also have the benefit of Gogo Galileo.

Key Points: 
  • NetJets to Install Gogo AVANCE, 5G, and Global Broadband
    BROOMFIELD, Colo., Feb. 7, 2024 /PRNewswire/ -- NetJets has reached an agreement with Gogo Business Aviation (NASDAQ: GOGO) that provides NetJets the ability to upgrade their U.S. aircraft to Gogo AVANCE L5, Gogo 5G, and Gogo Galileo, the company's Low Earth Orbit (LEO) broadband satellite service.
  • NetJets Owners in Europe will also have the benefit of Gogo Galileo.
  • "Gogo is excited to continue our long-term partnership with NetJets," said Sergio Aguirre, Gogo's president and chief operating officer.
  • Throughout the 20-plus year relationship with the worldwide leader in private aviation, Gogo has created features such as over-the-air software updates to address NetJets' specific operational needs while also providing services like Gogo Vision to improve the inflight connectivity experience.

Skyservice Business Aviation Aligns Organizational Structure for Future Growth

Retrieved on: 
Thursday, February 1, 2024
Aircraft, Linx, Growth, OEM, XO, History, Safety, NetJets, Vista, Aviation, KOPF, Skyservice Investments, Acquisition, Business Aviation, Aircraft maintenance, Airline

TORONTO, Feb. 1, 2024 /PRNewswire/ - Skyservice Business Aviation ("Skyservice" or "the Company"), a North American leader in business aviation, today announced changes to its organizational model to further enhance client engagement and drive growth opportunities.

Key Points: 
  • TORONTO, Feb. 1, 2024 /PRNewswire/ - Skyservice Business Aviation ("Skyservice" or "the Company"), a North American leader in business aviation, today announced changes to its organizational model to further enhance client engagement and drive growth opportunities.
  • This new structure, consisting of three global business lines in Business Aviation, Fixed-Base Operations, and Aircraft Maintenance, elevates leaders within the organization while welcoming Ronald Silverman to the team as president, Business Aviation.
  • Mr. Silverman brings extensive business aviation experience and is responsible for Skyservice's managed aircraft sales, charter, and aircraft sales and acquisition divisions.
  • This addition to the team and new structure is the next step in Skyservice's long-term vision to become the preeminent provider of business aviation services and solutions globally.

Skyservice Business Aviation Aligns Organizational Structure for Future Growth

Retrieved on: 
Thursday, February 1, 2024
Aircraft, Linx, Growth, OEM, XO, History, Safety, NetJets, Vista, Aviation, KOPF, Skyservice Investments, Acquisition, Business Aviation, Aircraft maintenance, Airline

TORONTO, Feb. 1, 2024 /PRNewswire/ -- Skyservice Business Aviation ("Skyservice" or "the Company"), a North American leader in business aviation, today announced changes to its organizational model to further enhance client engagement and drive growth opportunities. This new structure, consisting of three global business lines in Business Aviation, Fixed-Base Operations, and Aircraft Maintenance, elevates leaders within the organization while welcoming Ronald Silverman to the team as president, Business Aviation. Together, these changes align with the Company's business strategy and advance Skyservice's ability to deliver personalized service and safety excellence, promote operational efficiency and position the Company for future growth.

Key Points: 
  • TORONTO, Feb. 1, 2024 /PRNewswire/ -- Skyservice Business Aviation ("Skyservice" or "the Company"), a North American leader in business aviation, today announced changes to its organizational model to further enhance client engagement and drive growth opportunities.
  • This new structure, consisting of three global business lines in Business Aviation, Fixed-Base Operations, and Aircraft Maintenance, elevates leaders within the organization while welcoming Ronald Silverman to the team as president, Business Aviation.
  • Mr. Silverman brings extensive business aviation experience and is responsible for Skyservice's managed aircraft sales, charter, and aircraft sales and acquisition divisions.
  • This addition to the team and new structure is the next step in Skyservice's long-term vision to become the preeminent provider of business aviation services and solutions globally.

Archer Continues Attracting Top Talent From Across Aviation Industry; Hires Two Leaders From Wheels Up and Delta Air Lines to Support Its Entry Into Service in 2025

Retrieved on: 
Friday, January 19, 2024
Automotive Manufacturing, EV, Electric Vehicles, Aerospace, Automotive, Technology, Manufacturing, Drones, Air, Transport, Other Technology, Alternative Vehicles, Fuels, Senior, NetJets, Aviation, Wheel, Berkshire Hathaway, Venture, Life, Multimedia, Delta Air Lines, Atmosphere of Earth, Delta Air, Sterling, AAM, Delta, Travel, Aircraft, Advanced Air Mobility, ACHR, Airline

Long-time private aviation executive, Miles Rogers, has joined Archer as its Senior Vice President, Head of Marketing, and Sterling Gerdes has joined Archer as its Product Lead for Vertiport Experiences.

Key Points: 
  • Long-time private aviation executive, Miles Rogers, has joined Archer as its Senior Vice President, Head of Marketing, and Sterling Gerdes has joined Archer as its Product Lead for Vertiport Experiences.
  • Sterling Gerdes comes to Archer after spending over seven years at Delta Air Lines focused on bringing new products to customers including overseeing its early Advanced Air Mobility strategy.
  • Their combined experience and skills will be integral to Archer’s commercialization efforts as the company readies for its Midnight electric air taxi’s planned entry into service in 2025.
  • Prior to that, he held various leadership roles at Delta including in AI & Innovation Strategy.

NetJets' sterling safety record at risk as Fractional threatens litigation against its Pilot Union

Retrieved on: 
Friday, January 26, 2024
Aircraft, Aviation, Berkshire Hathaway, Partnership, Fatigue, Documentation, NetJets, Warren Buffett, History, Behavior, Fraction, Travel, Safety, COVID-19, Letter, Marketing, Union, Atmosphere, Airline

COLUMBUS, Ohio, Jan. 26, 2024 /PRNewswire/ -- NetJets Aviation, Inc., a subsidiary of Warren Buffett's Berkshire Hathaway (NYSE: BRK.A), recently alleged that by documenting maintenance issues on NetJets aircraft, its pilots were deliberately engaging in a work slowdown. The company also accused its pilots, in a letter to the NetJets Association of Shared Aircraft Pilots (NJASAP) on Jan. 15, of purposely calling in fatigued more frequently as part of the alleged slowdown. NJASAP is the union that represents the 3,200-plus pilots who fly in the service of NetJets.

Key Points: 
  • NJASAP is the union that represents the 3,200-plus pilots who fly in the service of NetJets.
  • When pilots are afraid to document maintenance issues, air travel becomes less safe.
  • "In the event of the unthinkable, pilot decision making and fitness for duty will be matters of intense scrutiny," Leroux said.
  • As 2024 begins, the blame for those continuing challenges has found a new source: the NetJets pilot group.

NetJets threatens litigation over alleged slowdown

Retrieved on: 
Friday, January 19, 2024
Berkshire Hathaway, Member, Fatigue, Warren Buffett, Behavior, Fraction, Communication, NetJets, Aircraft, Transport, Letter, Union, Airline

COLUMBUS, Ohio, Jan. 19, 2024 /PRNewswire/ -- This week, NJASAP, the independent labor union representing the 3,200-plus pilots who fly for NetJets, received a letter from NetJets counsel alleging, among other things, that the Union had condoned or encouraged pilots to engage in a work slowdown in an attempt to negatively impact the Fractional's operations. A subsidiary of Warren Buffett's Berkshire Hathaway (NYSE: BRK.A), NetJets Aviation Inc. is the premier provider of luxury private air transportation.

Key Points: 
  • A subsidiary of Warren Buffett's Berkshire Hathaway (NYSE: BRK.A), NetJets Aviation Inc. is the premier provider of luxury private air transportation.
  • NJASAP adamantly denies NetJets's allegation that pilots are engaged in an unlawful slowdown.
  • Specifically, NetJets has alleged pilots were "spiking" fatigue rates, increasing the frequency of documenting maintenance issues on aircraft and refusing to voluntarily extend their duty days.
  • The company issued this demand while, once again, failing to identify a single pilot who engaged in any of the alleged conduct.

NetJets Pilots Call Out Warren Buffett in National Ad

Retrieved on: 
Friday, December 1, 2023
Aircraft, Woman, Aircraft pilot, Union, NetJets, Art Basel, The Wall Street Journal, Delta, Fraction, Berkshire Hathaway, JetBlue, Aviation, Hearing, Life, Airline, United

COLUMBUS, Ohio, Dec. 1, 2023 /PRNewswire/ -- Today, the NetJets Association of Shared Aircraft Pilots (NJASAP), the independent pilot labor union that represents the pilots who fly for Berkshire Hathaway subsidiary NetJets Aviation, Inc., took out a front-page ad in The Wall Street Journal directly calling out Berkshire Hathaway CEO Warren Buffett. The ad comes after negotiations between NJASAP and NetJets deteriorated based on the Fractional's refusal to pay market-rate wages for pilot labor and to make commonsense enhancements to current scheduling practices.

Key Points: 
  • COLUMBUS, Ohio, Dec. 1, 2023 /PRNewswire/ -- Today, the NetJets Association of Shared Aircraft Pilots (NJASAP), the independent pilot labor union that represents the pilots who fly for Berkshire Hathaway subsidiary NetJets Aviation, Inc., took out a front-page ad in The Wall Street Journal directly calling out Berkshire Hathaway CEO Warren Buffett.
  • NJASAP questions whether NetJets owners are getting the value that should accompany the brand's premium price tag.
  • As the competition to retain talented aviators amid a deepening labor crisis escalates, NetJets' stance has left the Union baffled.
  • As NJASAP made clear in the ad, NetJets pilots are not content to earn 60% of what their JetBlue, United and Delta peers will make across a 30-year career.

Magellan Jets Leads Private Aviation's Digital Revolution with Stellar AI Platform Acquisition

Retrieved on: 
Monday, October 16, 2023
Stellar, Algorithm, Acquisition, AI, Aircraft, Milestone Aviation Group, Entrepreneurship, Growth, NetJets, Aviation, Ferdinand Magellan, Satellite navigation device, Airline

BOSTON, Oct. 16, 2023 /PRNewswire/ -- Magellan Jets stands at the forefront of the private aviation landscape, marking another industry-defining move with its acquisition of the AI-powered software platform from Stellar Labs, Inc. (www.stellar.aero). This acquisition will not only streamline the private jet card and charter flight quoting process, but also enhance trip planning and Magellan Jets' commitment to redefining the private aviation experience.

Key Points: 
  • This acquisition will not only streamline the private jet card and charter flight quoting process, but also enhance trip planning and Magellan Jets' commitment to redefining the private aviation experience.
  • Earlier this year, Magellan Jets hired two of the private aviation industries most innovative leaders.
  • The combination of the Stellar Labs platform and the recent strategic leadership additions uniquely positions Magellan Jets to define a new chapter in luxury private aviation service powered by best-in-class technology.
  • Speaking on the recent strategic moves, Joshua Hebert, Magellan Jets' Co-Founder and CEO, said, "Integrating Stellar's AI capabilities marks a quantum leap in private jet service delivery.