Gogo's service cleared by Russian regulators


Gogo (GOGO -3%) has obtained regulatory approval to provide Ku-band satellite Web access to planes flying over Eastern and Western Russia.

The approval follows deals with Russian satellite service providers AltegroSky and RuSat. Service in the aforementioned regions is expected to start this month.

Gogo, whose early growth has been driven by U.S. service deals, says it's now able to offer its services in over 180 countries, and is "on target to have 50 to 100 international aircraft flying by the end of the year."

Shares are lower amid a tech selloff.

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Comments (2)
  • shoenfield
    , contributor
    Comments (85) | Send Message
     
    One would expect the stock to go up today on the "good news". The operative word is expect.
    15 Jul 2014, 02:14 PM Reply Like
  • quanius
    , contributor
    Comments (28) | Send Message
     
    This stock has been stuck in a tug o' war between those who clearly see the value of the future business and those that follow Jim Cramer. The reality is that any airspace approval is not that big of news. We need to see the new intl aircraft sign ups to spike the stock upwards.

     

    I have been loading up since the decline from 18 which returned the stock price to the pre ATT scare date. If you follow the customer service responses on twitter you can sense that the ATG4 and tech improvements have begun having a positive effect.
    15 Jul 2014, 02:26 PM Reply Like
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