Intelsat reports pro forma Q1 revenue decline; Gogo business generates $56.2M in revenue

by Peter B. de Selding

PARIS —Satellite fleet operator Intelsat, which has been in Chapter 11 bankruptcy regurgitation for 12 months, reported a 2.6% drop in pro forma revenue for the three months ending March 31 compared to a year earlier, with both its transponder-lease and managed services showing declines.

The company said revenue from its Gogo Commercial Aviation aero-connectivity business, purchased for $400 million in cash in December, totaled $56.2 million for the quarter.

Intelsat Chief Executive Stephen Spengler, in a May 5 statement accompanying . . .

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