TAMPA, Fla. Global Eagle Entertainment, a provider of media services and satellite Wi-Fi to aircraft, boats and remote locations, has exited Chapter 11 bankruptcy.
Around half a dozen of the satellite communication providers lenders took control of the company March 23, shedding about $488 million of its debt in the process.
The new owners have also invested around $218 million in the business to strengthen its balance sheet.
The Los Angeles-based company reported close to $1.1 billion in debt when it filed for bankruptcy protection in July 2020. It collapsed into bankruptcy after the pandemic significantly reduced airline and cruise line activities.
Global Eagles lighter debt load helps position the company to take advantage of reco…
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