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 GogoGogo 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 |
SOURCE Gogo Business Aviation
