Row 44 Secures $21 Million Equity Investment
Posted at May 19th 2008 12:00AM

Westlake Village, CA (May 19, 2008) – Row 44, the leading provider of airborne broadband systems for commercial aviation, announced today that it has closed a financing of over $21 million. PAR Capital Management led the round.

"Row 44 continues to execute on plan," said John Guidon, Row 44 Chief Executive Officer. “We could not have asked for a more industry knowledgeable investor than PAR Capital’s Ed Shapiro, and we welcome him to our board.”

“We are excited about the opportunity to invest in this cutting-edge technology,” said Ed Shapiro, Vice President of PAR Capital. “Having covered the Airline and Media/Entertainment Industries for nearly 18 years, I have long believed that there would be an opportunity for airline passengers around the globe to cost-effectively receive in-flight broadband access. Row 44, together with its technology and initial airline partners, has developed an impressive business model and we look forward to the upcoming launch of its service.”

Row 44 is scheduled to perform commercial trials with Alaska Airlines and Southwest Airlines in
North America this summer. The funds raised will be used to expand operations and facilitate the global rollout of the company’s in-flight communications system.

Row 44 is the fast, global, fleet-wide solution for in-flight broadband services – high-speed Internet, video entertainment, cell phone roaming, and airline operational in-flight communications. The Row 44 system offers wide-body, narrow-body and regional jet support along with flexible service deployment options. Adding Row 44’s service to a fleet is cost effective because installation is quick, the hardware is light, and the service leverages existing satellite networks.
PAR Capital, based in Boston with over $1.5 billion in assets under management, focuses on investments in various consumer related industries.

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