Billionaire tycoon Elon Musk said in a tweet Thursday that he is in talks with airlines to establish Star Link, a satellite-based broadband service owned by his rocket company SpaceX.
Musk, who is known for his lively interactions with Twitter banter, announcements and followers, gave no details of the talks in his tweet. It is not immediately clear which airlines are connected or when the installation will occur.
Shares of internet provider Gogo on Intraday plunged at least 5.7 per cent before recovering some of the losses in the afternoon trade.
Starlink, the satellite internet unit of SpaceX, plans to deploy 12,000 satellites. SpaceX says it will cost Starlink Group about $ 10 billion.
It is one of the smaller satellites manufacturers that includes Amazon’s Kuiper, Britain’s OneWeb, Venture-Capital-Backed Planet and Raytheon Technologies’ Blue Canyon Technologies.
Musk currently helps companies including electric-car manufacturer Tesla, Rocket Startup SpaceX and Neurlink, which are developing ultra-high bandwidth brain-machine interfaces to connect the human brain to the computer.