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 . . .
To view the entire article, become a subscriber!