Gogo (NASDAQ: GOGO), a Chicago-based provider of broadband connectivity products and services for aviation has reported consolidated revenue of USD 96.6m, a 55% decline compared to the second quarter 2019, the company said.
Gogo reported a net loss of (USD 86.0 million), an increase from a net loss of (USD 84.0 million) in Q2 2019. Net loss in Q2 2019 included a loss on extinguishment of debt of $58.0 million.
Adjusted EBITDA decreased to (USD 15.9 million), down from positive USD 38.0 million in Q2 2019, due to lower segment profitability across all three segments.
Second quarter 2020 revenue in business aviation totaled USD 54.6 million, a decrease of 23% from Q2 2019, driven by declines in both service and equipment revenue caused by the negative impact of COVID-19.
Second quarter 2020 revenue in commercial aviation in North America (CA-NA0 decreased to USD 30 million, down 72% from Q2 2019.
Second quarter 2020 revenue in commercial aviation for the rest of the world (CA-ROW) decreased to USD 12.0 million, down 67% from Q2 2019.