*summarising others thoughts*
The picocell idea is not new. It does not rely on ground stations to connect to, and is instead a base-station-in-the-sky. No ground base-stations are contacted, and for all intents and purposes the aircraft would operate as a 'country'. Both voice and data would be beamed to/from a geo-synchronous satellite.
It's similar in principal to Cruise Ships. Many large cruise-liners now have GSM/GPRS availability to passengers on board. When a passenger connects to the network, they are roaming and roaming fees apply for voice and data. Cruise ships are also generally the most expensive 'countries' to roam in, most being well over $5AUD/minute (even our service has it in the highest price band for countries, but it's typically lower than this).
The same would happen in an aircraft. Most maritime GSM/GPRS deployments are run by one of two companies, one out of Norway, the other out of Italy. These companies operate the cells on behalf of the cruise liners, and make their return off the call revenue. Aircraft would be the same, with a company installing a network in a plane and then charging other carriers to roam on it.
On other things...
Satellite != WiFi. They're two very different things. You can have a two-way sat connection and share it via wifi, but you can do that with a GPRS/HSDPA connection to. I've occasionally setup my 3G dongle on my laptop with wifi sharing via my laptop (dongle providing the 3G data, the laptop being the access point). This would then mean that anyone using the wifi connection on board would be sharing the one single HSDPA session. That would be excruciatingly slow (HSDPA isn't all that fast, and then everyone using it, with the latency of satellite up to the bird, back to the ground, back to the bird, and back to the aircraft) would be truly awful for anything but email.
This is why GoGo Works. It's ground based, and shares one pipe (large with lower latency that just goes plane-earth-plane) via a wifi connection, and they have the population density to be able to deploy ground stations with decent backhaul and hand-off much more easily.