BROOMFIELD, Colo., Aug. 3, 2023
/PRNewswire/ -- Gogo Business Aviation (NASDAQ: GOGO) today
introduced AVANCE LX5, a value-priced and easy box swap for AVANCE
L5 owners to upgrade to Gogo 5G that eliminates the need to install
a second Line Replaceable Unit (LRU) on their aircraft.
"The new 5G AVANCE system is evidence of our culture of
continuous improvement and the way in which we implement customer,
dealer and partner feedback to drive innovation," said Sergio Aguirre, Gogo's president and chief
operating officer. "LX5 expands our AVANCE product portfolio with a
single box option for customers, making the installation of Gogo 5G
even easier."
Designed in the exact same form factor as the currently
available AVANCE L5, LX5 is contained in a single box LRU, ideal
for space-constrained customers, and houses the hardware and
software necessary to leverage the full power of the Gogo 5G
network, expected to deliver mean speeds of ~25 Mbps, with peak
speeds of 75-80 Mbps. Previously, an upgrade to Gogo 5G required
the installation of two LRUs.
For customers new to AVANCE, they can pre-provision today by
installing the MB13 5G antennas and an L5, and will be able to
operate on the Gogo 4G network until the launch of Gogo 5G, which
is expected in mid-year 2024, at which time they will be eligible
to receive a free LX5 swap for their L5 LRU. Between now and the
end of 2023, Gogo is also offering special rebates on MB13
antenna installations.
For the more than 2,200 aircraft already equipped with AVANCE
L5, an upgrade to Gogo 5G will consist of a simple box swap and
replacement of the DDA antennas with the new MB13 antennas.
Gogo AVANCE LX5 is the next iteration of Gogo's transformative
and industry-leading AVANCE platform and will retail for
approximately $141,500 MSRP.
Gogo 5G is the unparalleled solution for high speed, low
latency, high bandwidth and reliable nationwide Air-to-Ground (ATG)
coverage, offering complete coverage in the United States and parts of Canada at launch, with additional expansion in
Canada to be completed in
2024.
For customers flying international missions, AVANCE LX5 also
provides an easy upgrade path to new technologies and networks
including Gogo's global Low Earth Orbit (LEO) broadband satellite
solution, Gogo Galileo, launching in the second half of 2024.
About Gogo
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 March 31, 2023, Gogo
reported 3,447 business aircraft flying with Gogo's AVANCE L5 or L3
system installed, 7,046 aircraft flying with its ATG systems
onboard, and 4,458 aircraft with narrowband satellite connectivity
installed. Connect with us at 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, 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 report on Form 10-Q as filed with the SEC on May 3, 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.
Media Relations Contact:
|
Investor Relations Contact:
|
Caroline
Bosco
|
William
Davis
|
+1
312-517-6127
|
+1
917-519-6994
|
cbosco@gogoair.com
|
wdavis@gogoair.com
|
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SOURCE Gogo Business Aviation