Aircell is increasingly confident that an initial public offering (IPO) of shares is in its future, as the firm continues to rapidly expand its in-flight connectivity business in the commercial and business aviation markets.
"We do not have any current plans for an IPO but believe that it's real possibility someday for our exciting, high-growth business," Aircell tells ATI and Flightglobal.
Aircell's cadre of connectivity solutions include its air-to-ground (ATG)-based Gogo service for the US commercial sector plus ATG and Inmarsat SwiftBroadband-supported services for business aircraft operators.
About 1,000 commercial aircraft have been equipped with Gogo, while hundreds of business jets now carry Aircell's ATG system for the sector.
The Chicago-headquartered company's management team has undergone a reshuffle in recent months, leading some industry observers to speculate that Aircell is gearing up for an eventual IPO.
In February Aircell appointed former Centennial Communications CEO Michael Small as president and CEO, replacing Ron LeMay, who returned to the position of chairman.
At that time, veteran Aircell executive - and company investor - Jack Blumenstein exited the chairmanship.
Later, Aircell CFO Reid Simpson announced he is leaving the company. "The search for our new CFO is underway," confirms Aircell.
More recently, Aircell has appointed another Centennial Communications executive, Jonathan Cobin, as senior vice-president of project and operations management.
Cobin's position "is a newly created one", says Aircell.
Source: Air Transport Intelligence news
