William Blair notes that Flexjet announced that it plans to equip its fleet with SpaceX’s Starlink inflight connectivity service and said that it received approval to install the Starlink antenna on the Gulfstream G650 aircraft. The firm sees short-term headline risk for Gogo (GOGO) as this news gets more widely disseminated, but after having spoken with Gogo it says “there are many mitigating factors that leave us positive on Gogo over the long term.” The analyst, who also covers Gulfstream owner General Dynamics (GD), says that Gulfstream “appears to have concerns about the Starlink antenna” and also says Gogo has indicated that many of its customers use multiple connectivity suppliers. William Blair maintains an Outperform rating on Gogo shares.
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