Gogo: $216 million in cash; co’s commercial air traffic dropping 95% in April; laying off 60% of staff

by Peter B. de Selding

PARIS — In-flight-connectivity provider Gogo said its commercial airline sales, which accounts for 60% of revenue, is likely to drop up to 70% in April, accompanied by steep declines in business aviation as companies request account suspensions and expected new business aircraft remain on the ground.

Passenger traffic on Gogo-equipped commercial airlines had dropped 95% in April compared to the same period last year, Gogo said.

The company said it is temporarily laying off more than 600 employees — 60% of its total work force — and . . .

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