Air travel soon will become more pleasurable. At least that is the hope of The Boeing Co. [BA] officials who, on April 27, unveiled a new business segment.

Called Connexion by Boeing, the system will provide air travelers with an array of high-speed data communication services via a space-based network–all for the same price as cellular phone service.

Through this venture, commercial airline passengers will be able to access the Internet, e-mail, television, news and information in real-time while cruising at 35,000 feet.

“Boeing intends to be a leader in the new mobile economy–and that means helping our airline customers and their passengers stay globally connected at all times,” said Phil Condit, Boeing chairman and CEO. “In commercial air travel today, you have few choices–you can read a book or a magazine or watch one of several movies. But soon, when you can watch a live soccer match or e-mail family or shop online or keep an eye on your stocks–the airplane will begin to look like your home or office and the experience of travel will change.”

Boeing has signed memorandum agreements with: CNN Inflight Services, Mitsubishi Electric Corp., Alenia Spazio, Loral Skynet, Matsushita Avionics Systems Corp. and CNBC. Company officials said system installations are expected to begin in late 2001, with operability expected shortly thereafter.

Even though anticipated revenues were not disclosed, analysts project the program’s addressable market to be around $70 billion through the next 10 years. “Our immediate task is to make these services available to the airlines and the 3 million airline passengers who board some 42,300 flights on Boeing-built planes daily. The system seeks a far broader market,” Condit added.

Business developers at Connexion are focusing on North America in the near-term. Service will be expanded to other regions, over ocean areas and onto other moving platforms.