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.
Pursuing an unusual goal is exhilarating. In the past, you were taken to task for being a rebel. Now people are expressing admiration for your dreams. You're an inspiration to those who aren't enamoured with the status quo. If you have a chance to learn a foreign language, take it. Mastering this tongue will pave the way for an exciting trip. You have to admit, you've grown tired of the old routine. It's time to strike in a new direction.More