Tuesday, June 12, 2012
Row 44 Secures $45 Million in Financing
Row 44, of Westlake Village, Calif., closed a $45 million round of financing, led by in-flight content provider Advanced Inflight Alliance (AIA), of Munich, and included participation by PAR Capital Management, an investor in all of Row 44’s institutional funding rounds.
“This financing continues to strengthen Row 44’s financial position, and provides us with resources to broaden our offering, expand our infrastructure and invest in the types of programs our customers will find valuable,” said John LaValle, Row 44’s CEO. “As the world’s foremost expert in in-flight content, AIA has made a key investment in Row 44, and in our ability to grow and evolve the passenger experience with inflight entertainment.”
“Row 44 has created a new standard in the inflight connectivity space,” said Louis Bélanger-Martin, CEO of Advanced Inflight Alliance AG. “We believe Row 44 has built the industry’s most powerful inflight WiFi solution for passenger devices. Our investment is an important strategic step for AIA to provide a connected environment complementary to the market-leading inflight entertainment content we provide to airlines across the world.”
Row 44 will use a portion of the investment capital to expand its global infrastructure to support new European and Trans-Asia airline customers, including the recently announced partnerships with Transaero, Russia’s first private airline and Icelandair. More
Added LaValle “This industry is still in its infancy, and at Row 44 we see unlimited potential for the ways travelers can be productive and entertained while flying. We look forward to continuing to lead the evolution and work with our airline customers to provide the most advanced in-flight entertainment experience available.”