They are aiming to perform aboard an airliner at an altitude of 43,000ft next month in an effort to raise money for charity.
The current high-flying Guinness World Record was set by James Blunt, who performed at just over 42,000ft.
Tony was the frontman with Spandau Ballet whose hits included True, Gold and I'll Fly For You. He is due to perform songs made famous by the band when he performs on a British Airways Boeing 767 on March 10 in the build-up to Red Nose Day.
The concert will also feature Bananarama and Go West as it raises money for Flying Start, the airline's charity partnership with Comic Relief.
He said: "I've played in some pretty unusual places, but a gig in the sky with my favourite airline is a first for me, and I'm very excited about breaking a new Guinness World Record too."
Fans have a chance to win 40 pairs of tickets by texting "Fly" to 64100, with texts charged at £5.
Peace and quiet will help you recover from a busy social life. Although you love attending parties, these engagements can take a toll on your health. Set aside a few hours in your busy schedule for solitary pursuits. Taking a nap, reading for pleasure or luxuriating in a hot bath is strongly advised. You've lost touch with your spiritual side. Take this opportunity to reconnect with it. You'll be surprised to learn how much you enjoy your own company.More