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NetJets will install Gogo AVANCE, 5G and global broadband
BROOMFIELD, Colo., Feb. 7, 2024/PRNewswire/ -- NetJets has reached an agreement with Gogo Business Aviation (NASDAQ: GOGO) offering NetJets the ability to upgrade its 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 be able to benefit from Gogo Galileo.
"We are committed to providing our Owners with an exceptional travel experience, and Wi-Fi is a critical component," said Brad Ferrell, executive vice president and managing director of NetJets. "Our Owners require reliable connectivity to continue their workday or connect to in-flight entertainment, which made AVANCE L5 and Gogo 5G the right platform to meet their needs, especially when traveling across the Americas. Meanwhile, Gogo Galileo is an ideal solution for our European jets: it offers high performance, can be installed on any of our aircraft and is backed by Gogo's award-winning global customer service."
The 10-year agreement offers NetJets the opportunity to upgrade its entire aircraft fleet to the AVANCE platform, including 5G and Gogo's LEO global broadband satellite service, depending on the aircraft's mission.
"Gogo is pleased to continue our long-term partnership with NetJets," said Sergio Aguirre, president and chief operating officer of Gogo. "With more than 450 US aircraft currently equipped with Gogo systems, upgrading to AVANCE L5 will improve performance threefold, and Gogo 5G will improve performance severalfold. Meanwhile, we are also bringing an even better experience to airline operators. all of Europe and all over the world with Gogo Galileo".
Throughout its more than 20-year relationship with the global leader in private aviation, Gogo has created features such as over-the-air software updates to meet NetJets' specific operational needs, while providing services such as Gogo Vision to improve the onboard connectivity experience.
Selected for NetJets aircraft in the United States, Gogo 5G and LEO satcom services are designed to deliver high performance with ultra-low latency to address the growing demand for data-intensive services and applications used in today's day, as well as emerging technologies in the future. Gogo 5G, scheduled to launch in Q3 2024, is expected to offer ~25 Mbps on average with peak speeds in the range of 75-80 Mbps. And Gogo's LEO service will be several times faster than current geosynchronous (GEO) satellites; This global service is expected to launch in the second half of 2024.
For NetJets aircraft in Europe, Gogo Galileo offers two fuselage-mount antennas: HDX, which is designed with a small form factor that can be installed on any size business aircraft, including superlight aircraft and large turboprops, and FDX, which is designed to fit larger aircraft and will offer best-in-class performance.
The AVANCE platform, powered by Gogo Galileo, has been intentionally designed to provide easy upgrade paths to new technologies and networks. In the case of Gogo Galileo, any aircraft with an AVANCE product installed (L3, L5 or SCS), will only have to add the HDX or FDX antenna to the fuselage to access the benefits of LEO satellite network technology.
About GogoGogo is the world's largest provider of broadband connectivity services to the business aviation market. We offer a customizable suite of intelligent cabin systems for highly integrated connectivity, in-flight entertainment and voice solutions. Gogo 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 used 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 onboard broadband ATG systems, 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.
About NetJetsNetJets has been setting – and surpassing – industry standards since 1964. Today, NetJets is proud to be a Berkshire Hathaway company known for its unwavering commitment to safety and service. The leading NetJets family of brands, which encompasses NetJets, Executive Jet Management, QS Partners and QS Security, offers a variety of customizable travel solutions, including shared ownership, leasing and jet card options, aircraft management, private jet leasing, brokerage and procurement services, and specialized security services. This comprehensive range of solutions is why many of the world's most discerning travelers choose NetJets generation after generation. It's also because NetJets has the largest and most diverse fleet of private jets in the world, guaranteeing access at any time to even the most remote destinations on the planet. For more information on the leader in private aviation, visit netjets.com today.
Cautionary Concerning Forward-Looking StatementsCertain statements contained 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, but are not limited to, statements regarding our business prospects, industry , business strategy, including our relationship with NetJets, plans, objectives and expectations regarding our market position, international expansion, future technologies, including Gogo's 5G and LEO services, future operations, future efficiencies and other financial and operational information. When used in this discussion, the words "anticipate," "believe," "continue," "could," "expect," "intend," "may," "plan," "should," "will," " future" and the negative of these or similar terms and phrases are intended to identify the forward-looking statements in this press release.
Forward-looking statements reflect our current expectations regarding future events, results or consequences. These expectations may or may not be met. Although we believe that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that these expectations will prove to be correct. Some of these expectations may be based on assumptions, data or judgments that turn out to be incorrect. Actual events, results and consequences may differ materially from our expectations due to a number of known and unknown risks, uncertainties and other factors. Although it is not possible to identify all of these risks and factors, they include, but are not limited to, our ability to execute our agreement with NetJets, and our ability to develop and deploy Gogo 5G, AVANCE L5, Gogo Galileo and other technologies.
Additional information regarding these and other factors can be found in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2022, filed with the Securities and Exchange Commission ("SEC") on February 28, 2023.
Any of these factors or a combination of them could materially affect our financial condition or future results of operations and could influence the ultimate accuracy of the forecasts contained in this report. Our forward-looking statements are not guarantees of future results and you should not place undue reliance on them. All forward-looking statements speak only as of the date on which they are made and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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