10 Updates

Gogo Plunges After AT&T, Honeywell Team Up To Fight For Sky-High WiFi

Apr 29 2014, 1:51pm CDT | by

There’s competition at 35,000 feet. Until now, Gogo has been the dominant name in airplane WiFi — the main player in an burgeoning (if often frustratingly slow) space. But now it has some major...

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13 weeks ago

Gogo Plunges After AT&T, Honeywell Team Up To Fight For Sky-High WiFi

Apr 29 2014, 1:51pm CDT | by

There’s competition at 35,000 feet.

Until now, Gogo has been the dominant name in airplane WiFi — the main player in an burgeoning (if often frustratingly slow) space. But now it has some major competition from AT&T and Honeywell, two tech giants with a combined market capitalization more than 200 times that of Gogo.

AT&T and Honeywell announced that their service, built around 4G LTE in-flight connectivity, is expected to be available “as soon as late 2015.” Gogo’s service, based on similar technology, is in use on about 80 percent of wired commercial aircraft in the U.S.

“Everyone wants access to high-speed, reliable mobile Internet wherever they are, including at 35,000 feet,” AT&T Chief Strategy Officer John Stankey said in a statement. “We are building on AT&T’s significant strengths to develop in-flight connectivity technology unlike any other that exists today, based on 4G LTE standards. We believe this will enable airlines and passengers to benefit from reliable high speeds and a better experience. We expect this service to transform connectivity in the aviation industry – we are truly mobilizing the sky.”

With no rival product launch imminent, Gogo still has a massive head start on the formidable pair, but investors are nervous that the smaller company won’t be able to win the war long term. Shares plunged nearly 25% on Tuesday following the news, falling under $14 per share for the first time since last October. Gogo went public in July 2013.

AT&T and Honeywell shares were both up slightly in trading.

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7 weeks ago

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7 weeks ago

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Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

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Update
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7 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

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Update
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7 weeks ago

Malaysia's total trade in April up 12pc

Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

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Update
3

7 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

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Update
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7 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today launches RM45 million Ramadan Bazaar Scheme 2014 ...
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Update
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8 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

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