PARIS— Aeronautical and maritime satellite connectivity service provider Global Eagle Entertainment (GEE) warned investors that it may not be able to avoid Chapter 11 bankruptcy this year.
The company obtained a waiver from creditors that set a leverage ceiling, but that was replaced by a liquidity floor it may be unable to maintain this year unless its mobility markets recover quickly from the Covid-19 pandemic’s devastating effects on passenger travel.
“Based on current projections, management believes it is probable that the Company will not comply . . .
To view the entire article, become a subscriber!
