Microsoft announced Microsoft Flight Simulator for Xbox One and PC during the Microsoft E3 2019 press conference. It will launch in 2020.
Here is an overview of the game, via Microsoft:
Microsoft Flight Simulator is the next generation of one of the most beloved simulation franchises. From light planes to wide-body jets, fly highly detailed and stunning aircraft in an incredibly realistic world. Create your flight plan and fly anywhere on the planet. Enjoy flying day or night and face realistic, challenging weather conditions.