Gogo to furlough more than 600 employees, applies for CARES Act grant and loan [MarketWatch]
Gogo Inc. (GOGO)
Last gogo inc. earnings: 3/13 07:00 am
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US:NASDAQ Investor Relations:
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Source: MarketWatch
Shares of Gogo Inc. tumbled 10% said Tuesday after the provider of in-flight connectivity and wireless entertainment said it will furlough more than 600 employees, or about 60% of its workforce, as part of its plan to cut costs as a result of the COVID-19 pandemic. The company said it will also reduce compensation for most other employees, including a 30% cut of Chief Executive Oakleigh Thorne's salary. Gogo said the cuts were necessary as as 60% of its revenue comes from its two commercial airline segments, and passenger traffic on the airlines using Gogo's service has dropped 95% this month. In addition, the remaining 40% of Gogo's revenue comes from its business aviation business, which has seen a "sharp decrease" in flight activity. Other actions Gogo is taking to deal with COVID-19-related impacts include renegotiating terms with suppliers, delaying equipment installations, cutting marketing and travel expenses and applying for an $81 million grant and $150 million loan under the
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GOGO
News
- Gogo (GOGO) Q3 2025 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Here's What Key Metrics Tell Us About Gogo (GOGO) Q3 Earnings [Yahoo! Finance]Yahoo! Finance
- Gogo Announces Third Quarter 2025 ResultsGlobeNewswire
- Gogo begins flight testing next-generation air-to-ground connectivity with 5G chip and Gogo AVANCE LX5 and Gogo X3 products.GlobeNewswire
- SD Government, a Gogo Company, receives federal contract to supply airborne communications for US agencyGlobeNewswire
GOGO
Earnings
- 11/6/25 - Miss
GOGO
Sec Filings
- 12/5/25 - Form 4
- 12/5/25 - Form 4
- 12/5/25 - Form 4
- GOGO's page on the SEC website