Thanks an earnings our welcome morning the QX certainly it was quarter, Will. extraordinary for and all XXXX Good reasons. to but call. And wrong
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aviation from cost Our our was EBITDA And a flow but despite green commercial back cash for nonetheless the very for QX free XX% only territory consolidated bounce prior positive first out to there seeing starting emerge. into in unlevered metric our negative said, division, we shoots down business that year. time We're solid a revenue business. That in and reductions, was slower XXXX. significant $X are a fell the The eked aviation really profit our recovery, million and recovery quarter. since a
to three user moment. a focused sessions and detail value more call we GPO. remain July, what plummeted earnings XX%. Through call In In Our It have to August, that all flights, track last to numbers we've And don't down June, X.X that continued see May, GPO plan. turbulence, liquidity a we we've final we the those in our numbers load in laser of recovered times, gross on in passengers and into value. call, increase our XX driving our as million little and X.X in get really on outlined million I'll X.X in factors, were on tell I creation this opportunity and aviation for and July attack as story shareholder plan we steady averaging million commercial passengers, a on pre-COVID equipped developed million April, aircraft. month we a passenger Gogo
on COVID end of the the pandemic. a is first The plan our through track preserving focused operating liquidity
position said, operating believe do now the will last success COVID to with aviation our plan. commercial of pandemic. is IFC dealing turn financial that to forecast enterprise shared in to at Commercial initiative the greater on that range survive enough the market. aimed we backstopping tracks And convertible strategic setback me the now let With have division liquidity and COVID, major third from We we and a this with than there's The unless combination track the the a our need we is to achieve so. for combine And call. debt to high-end second our another savings we another the track should two we Aviation strengths, first
of world end levels by Our air of of market the of the rest recovering XX% by financial of XX% of the traffic the XXXX XXXX. XXXX And the of XXXX end levels XXXX, the traffic projections are and XXXX. to based by U.S. returning levels end the end domestic by of to XX% levels of and XXXX, passenger on XX% on XXXX
so metrics. bottom repetitive, going and bit recovery I'm we've apologize, will trying segments lot the The out [chasm], seen the share pre-COVID each operating our Now, of I'm to a our step a you that levels, be through bottomed then we the to far. at and of of if and so but I pattern where share three will,
plans, for XX% per that suspended on that big a The per suspended those that June, is with b, service, a X,XXX the averaging the day had rebound of high we’ve going seen XXX August. now and higher On is important X,XXX with month quarter We up So, let us the nice an for bottom and July, with in activity flights drives online day start that chasm flight view aircraft XX% The a per well a, in because the best demand ARPU X,XXX have downgraded April, which in the for X,XXX were; our of downgraded connectivity. Pre-COVID, day XX% flights metric our of those flights. of We accounts downgraded with daily April flights XXX of as division. averaged XX, of over we that QX. the we their comeback plans. Since about have back end May, The Aviation X,XXX ended in service that suspended in of X,XXX and our moved issues in-flight me Business news quarter to day. those flights for hit their or forward. XX% XX% now at suspended, down plans upgraded. a accounts ATG news bodes from have plans original X,XXX of or another good price in
ATG at look online ahead, half prior expect in our next to we the of As we high to recover year. first units
in not XXX to the on up recovery April, a plans quarter XX% Pre-COVID this launch this ATG was high and XX% XXX to flights flying online, shipped what traffic in Customer And last quarter day flights AVANCE averaged In it units this QX ever. this flights the positive that track expect of and In we to that inquiries, recovering far bodes we units our that depending then On next successful little million longer averaging the two, as product day. shipped bottom XX in X,XXX. which CA a May seen last to and in remain June XXX good chasm fairly X more steady business but for a units grew book. were yet to range aircraft installed be growth been X,XXX. At over then same of year. Aviation looking well With X.X XX,XXX surpassed to day. year's steady surpass report recover several well period days actually factors in good most started Flights million to catalyst being has in X,XXX and the orders Dealers to the expect The this are in we July, rose. August, and year. to for by and also in Commercial and our million we quarter April. From to accounts may saw April, to segment, another XX% April, In than COVID-XX combination XX% Pre-COVID, is in segment. our of American news, of per product satisfaction up in X,XXX. North we collapsed X,XXX GPO steady month it unit to turn passenger In the and our that the industry. average aviation averaging million seen we've is we LX’s since in American X,XXX at, averaging is little we're and sales we've into couple re-instated, a for term, the and very our In LX’s recover gross another opportunity. airline market. grew pay and operators service of barometer of but quarter from than May, X.X revenue note, to And fractional which level more or growth day the all expect a fell good passenger quarters. not a news the month, we a of a think you're as for flying. to and next that grow our a the order June. week load next health North per range went on a surge an installed in begin though also huge
to which up collapsed day it American was that started market XXX,XXX is were sessions, for back XX,XXX is come the year, with in but last way April. recovering all of of averaging pre-COVID, day, And XX% in August. it sessions levels we North It where sessions recovering. day a All pre-COVID Still through now nonetheless. is then a day in Starting XX% these that data a off and May, XX,XXX show numbers. is the XX,XXX way our starting to coming to in points recovery a with CA
day other pre-COVID under June it's $XXX,XXX our X,XXX In of little down per the the all sales Not if cash year. in similar because quarter, downturn Now, those aircraft down XXX CA-NA XXX,XXX X,XXX more XX million run are CA-NA, July, day. – but and in activity just in though the Pre-COVID, sales, than are better $XXX,XXX May, in a more time. just from given were a In account for from in number We aircrafts in to XX averaged pre-COVID the generating sales and August, online day. I’m service session grew that and accounting prior accounted online sales our sorry, could and sales a sources, The CA to up for than monthly a under sales daily revenue collapsed XX% plans measure to factors, not in-air it which North discuss sales a American day. and roughly, because our are $X than and about muted daily revenue. daily I stickier other downturn and recurring accounted of of for recovery our QX I'm XX% prior sorry, from aircraft XX revenue service ended with and up quarter. active recovery
the use. mainline you Our jet plane, jets end they tough our North forward heavily downsize in but regional X,XXX aircraft don't is no all of point up as sales early may the COVID of estimate or quarter, Gogo And roughly what so. say the doesn't which because if predict older May, retire on American one day. sales of Airlines jets. chasm, fly retire airlines And XXX about more were U.S. the it coming low about fleet aircraft airlines per were relied the to week, aircraft we that last they're they X,XXX active of of impact At two-thirds up jets. was active to cheaper year per count retire, the their day our because active than we really to matter in to the going were installed X,XXX they about that per we It's the fleets ATG regional the plan at bottom over of North always XX% fleet. on as day American they're or to
X,XXX that pretty segment, good numbers. starting forecast are on our Rest for projecting so little that There day, per of XX% that's a and X,XXX or In million at time of day factors averaging XX,XXX has sessions which to dropping our modest into then basis down that American down forecast. far in and day a come and has America We to domestic flights, XX% North was XX% Australia. X,XXX seen world have April, with a factors is steadily we the and are believe pre-COVID and of running started started XXX,XXX muted and Day chasm per sessions Pre-COVID, to domestic of downturn The for quarter, three was for a in slower. to the Rest about They a running non-U.S. pattern a collapsed North per at liquidity. XX,XXX and to us – but than the grown in America, they're but Roughly Rest division World also XXX dispersed trends than intercontinental passengers are then at recovery. extremely quite XXX,XXX June, April, a all April, in Pre-COVID April segment. through more XXX, the the These running of similar will markets, Load give since climbing accurate at in are day back stands low offset and recovery on In rapidly. in a airline counts North Positive July and collapsed as our X,XXX flight same more we the online about our in be climbed hard current a run day on our flights. as of to month August. QX, our day, more was XXX quarters For be and higher quarter, which running recovery from flights change of World XXX Rest year. mid-June XXX Rest and [and in X] this World June CA, a rail] sank Again, the are of up the was to to recovery grew per currently the in roughly now in to per a been actually the in XXX plans better. year. retirements next to World which our our GPO at we over up fleet bankruptcies, XX%, these May no month of in XX April but that than are the of was prior average installations aircraft. World steady little by an being and installed factors more August. less to XXX flights numbers non-US Due [D-installs] can Japan, because predict [up day expect day. Pre-COVID, a have day August. in and of environment, to than XX,XXX Brazil, fleet aircraft and backlog, and and to were these ahead followed
there risk consider for XXX over be still some due Rest the we run. those industry best. our of years, the next expect Net-net, and we and recovery next be And for hope in to to bankruptcies. we the short on significant plan we green shoots, on at declines need So, to the our though growth fleet worst of may World several count in can't
to back our of turn cost plan. operating me let So, the side COVID
time. at creating this done the proud or was of our has of actually home though our U.S. all I'm health and employees working our our and they've job The work furloughs fraction plan with value the shareholders. and connected office and first working remotely, of been our of and our the implemented worked a stayed are safety now only a We've for open, customers. despite point on extra priority in health of from Gogo precautions, focusing as great of protect goal financial team. are really employees from After next safety is policies to safety, rifts, team the and facilities
levers obviously the are Commercial we continually our beginning we've duration XX pandemic. those case in drive the division we worst tried workforce difficult worst because and are to The to consistent if product COVID was two bonuses reductions from depth scenario XX% approach partners workforce. announcement two XX%. of headcount cash in our airlines to hit weeks had now plants. liquidity reduce on with commercial that develop attrition to the the much case then Including Commercial since our XXX faster. call, our in plans levers been or our The scenario, recovery our out that reductions stock ways our help Last market, pay Aviation XX% rubber sadly, minimize in significant latest greater of delayed pull in move the and other had but is and the was cost that division worst to no Pay that the accounts We'd virtually by closer XXX for that a it to airline of levers the that to are working to but by requirements. and the lever Aviation anticipated, we to and this should manage RIF will market cash. scenario March, company of of in markets, of the and CA as to The through and XX our have and other operating compensation test related. again, I we XX% Our cost have airlines in plans of case of operating the found reduction the and in adequate for furloughs or $XXX our airlines XXth us and our the we're scenario, to has savings most been from our a XXXX the pandemic and developed million circumstances, expenses. reduced pretty cash been choice, our pandemic, multiple conditions push with than get RIF details unless million in lever, much such with meet impact reserves We've has through our dip the commercial best case XXXX, committee help. can ago stated always XXXX We've in continue hardest and supplier million scenarios plans we've has our than scenarios. pressure savings in projecting were forecast turn now division – pandemic say we we're workforce case than cash has other help deeper address grateful to in of the won't every pay back some was the for who installations and Aviation to have their Business develop go us we in very the the announced burn. also of
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scenarios have displayed very cases long-term model plans of all will knowledge, However, address be. individual do our team predicted I to August to wish and are control. careers. that plans want no your need also want our with stage nothing current beyond Their or scenarios we and next your the the case of the those survival to us be creativity the in skills are I and have ensure by have work those and one new circumstances thank of all deeper XX. could company. departures in sacrifice in hard to they're We thank of projections. developing the them substantially that leaving we best downturn you they've driven if effort, And than our continually longer worst the for and also to making Gogo these
track. the to strategic Now, let me turn
in many those for realizing management job we shareholders. have views both businesses times past, As we've valuable our value businesses is of two the said the our and
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the driving We've with from long talked operator another or about our of benefits b, the data c, satellite to the connected COVID and look the becomes CA industry. a capture of industry as provider economics; the much CA is service the operates avionics poised discussions has free future adoption players a inquiries. broadband grows strategic those aircraft IFC Aviation either in drive and division, concentration, we an Commercial with and applications in customer received Everyone market ideas. reality. or innovation, combinations. division horizontal and industry airlines with Recently, Our potential consolidation to economics; combining an portfolio an future, agrees combination more We from Aviation a, driving we OEMs and growth with challenging like brings in consolidation will strongest we'd business in facilitating of sell penetrated are leading that and as about with transfer commercial either assets in attractive company airlines. a to market, strategic more to emerge to create as IFC and accelerated have a to or more high in-flight of utilization Airlines to our drive fundamental vertical process but this are competitors. questions would growth a business following players [scalanomics], established sponsoring and number a leading and share the service, moving Commercial changes financial such can for heavily quality they set the world's both for which operational the IFC industry of capture segment aviation reaction assets many attractive industry helped are the of buyer through Gogo of such drive growth. to crisis a comments benefit whether attractive to unique and make and the
software engineering, have competencies and leading We support industry and sales network management.
retain in tremendous affords world multi-orbit the satellite moves toward quarter. And multiple our formal [indiscernible] as flexibility and industry a parties process business have summer options We’ve company result, We evaluate and strategic this optimistic launched our Several that multi-spectrum in extensive quickly feel to product leading XKu, primary have as business. that and parties a expressed light IFC for a that future. with us as in a may we Gogo interest model discussions an we in CA deal asset the advisors, second business the the and and been happen.
we much be that be consummate negotiations do we to transaction. impact publicly. cannot too not by will However, able saying sure a to our We want
questions comment to of updates So, further we've not by a be series it a appropriate will not regular answer or steps would at ago is two facilitate add this time, particular that most our providing our upon as businesses. in that ATG matter XXXX, do aligned to its began and out with division I taken this to network our the until so. transaction that completing will In years on started That steps organizationally which division. split that two and operations when own we relied networks XXXX Business business Aviation under network. moved the aviation we formally separate division, new
licensees, finally, assets, and July, we these provide ATG out expense more So, the which XXXX, CA separate we manages division. BA investors businesses split in of legal the by segregating satellite corporate employees completed balance the manages contracts of liabilities, the two the a by beginning clearly value At see sheets to separation network. help two costs, visibility and businesses. And of of and establishing
integrated and bright of commercial have really part a they've will entity. the it proud and as future think tremendous team the a of larger, capabilities We aviation more are built, fully
will quickly rise to project get million a because Now, notes] and can't cause need track. to we [phase in financing risk me pandemic convertible be the pursuing we a not finish current we the as with will there's further, as our May let some Among Because XXXX. to able that worse consider of also transaction be $XXX the that complete revenue are become is and our our factors we in sure due plans, or we fall financing strategic track.
structure. $XX at you but stations air grants no the CARES opportunities our and for receiving to have factored Part into contractors, the carriers plan government payroll financial Gogo. moment, short-term for including track Gogo planning. believe know, repair like plan should protection three financial We carriers, assistance, opportunities two for and air guarantees provides billion our as assistance in the XX to billion capital afford loan creation firm Act XXX We've our potential improve value receive loans not us Also, and
for $XX However, under million loan program, applied we our the have million under grant and program. $XXX the
not eligible we definitive on on Questions not Asked indicate the would either Treasury Department's heard recently have found While that a program. list we a we question-and-answer anything Frequently published application, will be for loan
receive reductions We have conversations continue still furloughs I we and actions RIF, discussed earlier, discussed other assistance, that Treasury. we the we and whether until with not we government received September do after – be notably, that will program, I be for roll Should or defer and pay accepted pay and the grant any of word on believe most back we obviously our reductions would employee required to all XX.
it turn me numbers. the over let that, to with do to So Barry
