Global Eagle files for Chapter 11 bankruptcy; creditors promise $80M in DIP financing and $675M asset purchase

by Peter B. de Selding

PARIS — Aero and maritime mobile broadband satellite services provider Global Eagle Entertainment Inc. filed for Chapter 11 bankruptcy protection and secured $80 million in debtor-in-possession (DIP) financing from its senior secured creditors to manage the business during the bankruptcy process.

The company told the U.S. Bankruptcy Court for the District of Delaware that it had l$630.5 million in assets, $1.09 billion in liabilities and more than 10,000 creditors.

The company had warned investors that a Chapter 11 filing . . .

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