Gogo Doesn’t Have Profits Yet, But Says It Has Momentum

In more than three years as a public company, Gogo has not reported a profitable quarter, and while that did not change Thursday, the company is betting it is finally on the right track. While quarterly revenues rose 22 percent, Gogo said Friday it lost $40.2 million from April through June, with its international commericial airline division responsible for much of the loss. But Gogo has long argue that selling its services outside of the United States is a key component of its business, and in the second quarter it signed up a major new customer, International Airlines Group, parent of British Airways, Iberia, and Aer Lingus. Gogo will need to continue to win new global customers if it wants to finally turn a profit, while also keeping its main U.S. customers, Delta Air Lines and American Airlin