The film, to be directed by Oscar winner Robert Zemeckis and written by John Gatins, will star Washington as a commercial airline pilot who saves nearly 100 people by landing a damaged plane, but who must later deal with of an investigation of his behavior the night before the doomed flight.
The cast will also include Kelly Reilly and Bruce Greenwood.
Cheadle's stage credits include productions of Cymbeline and Topdog/Underdog at the Public Theater. Goodman has appeared on Broadway in Waiting for Godot and Off Broadway in The Seagull and The Skin of Our Teeth. Tunie has co-starred on Broadway in Oh, Kay! and Julius Caesar, with recent stage credits including All's Well That Ends Well for Shakespeare Theatre of New Jersey.
Washington won the Tony for Fences and also appeared on Broadway in Julius Caesar. He won Academy Awards for his work in Glory and Training Day, and was nominated for his work in Cry Freedom, Malcolm X, and The Hurricane.