Aircell secures USD35m in private equity funding

Aircell closed (07-Feb-2011) a USD35 million financing deal with its existing investors and Aircell's management team. The funding has come from current investors Ripplewood Holdings and entities related to Oakleigh Thorne. It brings Aircell's total capital raised to almost USD600 million. Proceeds of the financing will be used to fund growth in both commercial and business aviation markets. In 2011, Aircell expects to increase its base of installed aircraft by an average of three per day in the airline market. Gogo is available on all AirTran Airways, Virgin America and mainline Delta Air Lines flights; as well as flights operated by Air Canada, Alaska Airlines, American Airlines, United Airlines and US Airways, with service on Frontier Airlines expected to begin shortly. [more]