Gogo posts $86M loss, looks to sell business unit
BROOMFIELD — Facing strong COVID-19-related headwinds, Gogo Inc. (Nasdaq: GOGO), a Chicago-based in-flight broadband connectivity firm with a major business unit headquartered in Broomfield, posted net losses in the second quarter of fiscal year 2020 of nearly $86 million.
“It certainly was an extraordinary quarter, but for all the wrong reasons. I think we can sum it up like this: If you sell internet on airplanes and no one is on planes, it’s tough to make a living,” Gogo CEO Oakleigh Thorne said Monday during a conference call with investors and analysts.
Last week, Gogo…
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