ViaSat announced Friday it had been selected as the inflight Wi-Fi provider for American's new 737 Max fleet. Its shares were up about 4 percent.
"We believe we are now approaching the end of an era where passengers have paid very high prices for very slow connections. Our agreement highlights a significant initial step for American to deliver an onboard Wi-Fi experience every passenger will want to use," ViaSat Chairman and CEO Mark Dankberg said in a statement.
Gogo shares were also under pressure after a Securities and Exchange Commission filing showed the company could lose a large of its American Airlines business.