Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Musk tweets he is in talks with airlines to install Starlink broadband

Published 10/14/2021, 11:30 AM
Updated 10/14/2021, 12:11 PM
© Reuters. FILE PHOTO: Tesla CEO Elon Musk speaks during the E3 gaming convention in Los Angeles, California, U.S., June 13, 2019. REUTERS/Mike Blake

© Reuters. FILE PHOTO: Tesla CEO Elon Musk speaks during the E3 gaming convention in Los Angeles, California, U.S., June 13, 2019. REUTERS/Mike Blake

(Reuters) - Billionaire entrepreneur Elon Musk said in a tweet on Thursday he was in talks with airlines about installing Starlink, a satellite-based broadband service owned by his rocket company SpaceX.

Musk, who is known for his Twitter (NYSE:TWTR) banter, announcements and lively interactions with followers, did not provide any details about the talks in his tweet. It was not immediately clear which airlines were approached or when installation would occur.

Shares of in-flight internet provider Gogo (NASDAQ:GOGO) Inc fell to an intraday low of 5.7% before recouping some of the losses in afternoon trading.

Starlink, the satellite internet unit of SpaceX, plans to deploy 12,000 satellites. SpaceX has said the Starlink constellation will cost it roughly $10 billion.

© Reuters. FILE PHOTO: Tesla CEO Elon Musk speaks during the E3 gaming convention in Los Angeles, California, U.S., June 13, 2019. REUTERS/Mike Blake

It is one of a growing number of companies making small satellites that also includes Amazon.com (NASDAQ:AMZN)'s Kuiper, Britain's OneWeb, venture capital-backed Planet, and Raytheon Technologies (NYSE:RTX) Corp's Blue Canyon Technologies.

Musk currently helms companies including electric-car maker Tesla (NASDAQ:TSLA) Inc, rocket startup SpaceX and Neuralink, a startup that is developing ultra-high bandwidth brain-machine interfaces to connect the human brain to computers.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.