In-Flight Wi-Fi Provider Global Eagle Files for Bankruptcy (1)

Global Eagle Entertainment Inc., the provider of in-flight WiFi and related services, filed for bankruptcy with plans to sell itself to its lenders including Apollo Global Management Inc.

The Chapter 11 filing in Delaware allows Los Angeles-based Global Eagle to continue operating while it seeks court approval for a plan to repay creditors. This includes selling itself to an investor group with Apollo, Eaton Vance Management and certain funds and accounts managed by BlackRock Financial Management, according to a company statement.

The deal is worth $675 million, Global Eagle said, and will cut its total debt by ...