AT&T announced the new air-to-ground network Monday, saying it will use the carrier's existing 4G LTE spectrum. The telecom plans to launch the new service by the end of 2015.
"Everyone wants access to high-speed, reliable mobile Internet wherever they are, including at 35,000 feet," John Stankey, Chief Strategy Officer at AT&T said in a press release. "We are building on AT&Ts significant strengths to develop in-flight connectivity technology unlike any other that exists today, based on 4G LTE standards. We believe this will enable airlines and passengers to benefit from reliable high speeds and a better experience. We expect this service to transform connectivity in the aviation industry we are truly mobilizing the sky."
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TheStreet Ratings team rates AT&T INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate AT&T INC (T) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures, notable return on equity and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."