That's a description of a new indie steampunk game in the works, called AIR. Players will be able to sail the skies as a sky pirate, naval officer, or mercenary. Other professions include Eyot Miner and Farmer, Tinkerer, Chemist, Scientist, and Noble. No screenshots yet or much other information.
Captain Robert of Abney Park will be doing the soundtrack. I love these guys. Can't wait to see how this develops.