Gogo lower after United Airlines announces Starlink deal with SpaceX

Shares of Gogo (GOGO), a provider of broadband connectivity services for the business aviation market, are lower in pre-market trading after United Airlines (UAL) announced it has “set a new standard of inflight connectivity by signing the industry’s largest agreement of its kind with SpaceX to bring Starlink’s fast, reliable Wi-Fi service to the airline’s mainline and regional aircraft fleet, for free.” United is “the largest airline across both the Atlantic and Pacific and will be the first carrier in the world to commit to offering Starlink service at this scale,” according to the airline, which noted that testing begins in early 2025 with the first passenger flights expected later that year. Following the news, shares of Gogo have slid 55c, or 7%, to $6.90 in pre-market trading.