Elon Musk, the billionaire entrepreneur, said in a tweet on Thursday that he was in negotiations with airlines about deploying Starlink, his rocket business SpaceX’s satellite-based broadband service.
Musk did not give any specifics about the negotiations in his tweet, which is known for his Twitter humor, announcements, and active interactions with followers. It was unclear whose airlines were contacted or when the installation would take place.
Shares of Gogo Inc, a supplier of in-flight internet, dropped to an intraday low of 5.7 percent before recovering some of the losses in afternoon trade.
Starlink, SpaceX’s satellite internet division, aims to launch 12,000 satellites. According to SpaceX, the Starlink constellation will cost around $10 billion.
Amazon.com’s Kuiper, Britain’s OneWeb, venture capital-backed Planet, and Raytheon Technologies Corp’s Blue Canyon Technologies are among a rising number of firms developing tiny satellites.
Tesla Inc, SpaceX, and Neuralink, a company that develops ultra-high bandwidth brain-machine interfaces to connect the human brain to computers, are among the firms Musk presently leads.