Global Eagle Entertainment has emerged from the Chapter 11 restructuring process, with a focus on mobility.
“Today marks the beginning of an exciting new chapter for Global Eagle,” said Joshua Marks, Chief Executive Officer of Global Eagle. “Having successfully completed our sale and restructuring process, and now focused fully on mobility, the Company benefits from a stronger balance sheet, enhanced liquidity and blue-chip backing from new owners. We are well-positioned to invest in innovation, drive growth in our business, and continue supporting our customers as they adapt to evolving passenger and guest needs. I appreciate the steadfast support Global Eagle’s new owners have demonstrated throughout this process, and I look forward to working closely with them as we build on the Company’s strong foundation and worldwide customer base to execute on the compelling opportunities ahead.”
Marks added: “I would like to thank our customers, vendors and business partners for their unwavering support throughout this process. I would also like to thank our employees for their continued dedication to serving our clients with outstanding solutions and support. Our success in this process is a testament to their commitment to Global Eagle and our stakeholders.”
As previously announced, Global Eagle’s new owners include certain funds managed by affiliates of Apollo Global Management, Inc., Eaton Vance Management, Mudrick Capital Management, Crestline Investors, Inc., certain funds and accounts managed by Sound Point Capital Management, certain funds and accounts managed by Arbour Lane Capital Management, L.P., and certain funds and accounts under management by BlackRock Financial Management, Inc., among others.