In-Flight Wi-Fi Provider Global Eagle Files for Bankruptcy
- Company plans to sell itself to lenders including Apollo
- Covid-19 sapped demand for its services to planes, cruises
Photographer: baona/iStockphoto via Getty Images
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Global Eagle Entertainment Inc., the provider of in-flight WiFi and related services, filed for bankruptcy with plans to sell itself to its lenders including Apollo Global Management Inc.
The Chapter 11 filing in Delaware allows Los Angeles-based Global Eagle to continue operating while it seeks court approval for a plan to repay creditors. This includes selling itself to an investor group with Apollo, Eaton Vance Management and certain funds and accounts managed by BlackRock Financial Management, according to a company statement.