Rivals Gogo (NASDAQ:GOGO) and its shares were hit hard on the news that ViaSat has been chosen as the in-flight provider of Wi-Fi for American Airlines.
The move will mark a step up in the world of in-flight Internet service as it is expected to be much faster and affordable compared to current in-flight Wi-Fi options.
Gogo was also affected by the Securities and Exchange Commission, which revealed in a filing that the company could lose a large chunk of its American Airlines business.
VSAT stock is up 4.5% Friday. GOGO stock is down 16.1% and AAL stock is down 2.7%.