Introduction
Gogo Inc.(GOGO) sits at the center of one of the hardest-hit industries, aviation. It provides in-flight wifi and entertainment solutions for both commercial airlines and business aviation.
Before the crisis
The company had already been doing poorly before the crisis. It appears to have been rapidly trying to scale its install base and capture more market share as evidenced by its exclusive agreement with Delta and its growing equipment revenue. Even so, service revenue had stalled.
In the past 3 years the company has had negative cash flow and negative net