On Monday AT&T announced plans to start offering an inflight internet product with speeds that reportedly will rival those of LTE.

Late last year the FAA softened rules when it comes to using electronics in-flight. Now, passengers are no longer required to stow their electronic devices during take-off, landing and taxi. This has caused in an increase in the use of inflight internet. Currently inflight internet runs around $10-$15 per leg of a trip. Frequent flyers can opt for passes which allow the to use inflight internet services on any equipped flight.

The current king of inflight internet is GoGo. The company has equipment on many domestic flights and has been around since the 1990’s when it was called Aircell and offered flyers the ability to make calls from wireless phones that were provided by the airline, typically on the seat in front of them. In 2008 the company began offering it’s inflight wifi product and changed their name to GoGo.

Now they’re about to see some stiff competition from AT&T. The second largest wireless carrier in the US will team up with Honeywell who will provide the necessary equipment to offer 4GLTE connectivity in planes. They plan on offering the new service in 2015.

“To deliver this new service, AT&T plans to build an innovative air-to-ground network in the continental United States, based on global 4G LTE standards, to provide fast speeds and efficient utilization of spectrum already owned by AT&T. As the architect and operator of the nation’s most reliable 4G LTE network**, AT&T has the expertise, spectrum and financial strength to transform airborne connectivity.” The company said in a release.

“Everyone wants access to high-speed, reliable mobile Internet wherever they are, including at 35,000 feet,” said John Stankey, Chief Strategy Officer at AT&T. “We are building on AT&T’s 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.”

GoGo’s current inflight internet product offers speeds possibly comparable to 3G speeds however many users would say it’s even slower than that. Current options from GoGo allow users to check email and browse the web, anything heavier than that is usually met with excruciating latency.

Business travelers are often complaining about the lack of high speed internet on planes, a situation GoGo has been working on for years. However, it seems that AT&T may beat them to the punch with a faster internet. The problem for AT&T will be getting their equipment onto as many flights as possible. GoGo currently has many annual contracts with the nations biggest domestic carriers.

Business Insider reports that GoGo’s stock tanked on Monday as a result of this news.