As you have undoubtedly already guessed, Beck smells a conspiracy.
Beck began by seizing upon reports that twenty employees from a company called Freescale Semiconductor were on board. According to Beck, these employees had the technology and expertise to "cloak" the plane and make it invisible to radar and detection.
Beck further speculated that the jetliner was likely diverted to Pakistan or some place like it, where is could be hidden and repainted to look like a British Airways jet and then flow over the Atlantic Ocean low enough so as not to be seen by radar right below another British Airways jet, flying on the same path but at a much higher altitude and registering on radar.
At some point, and without explaining how this would even be possible, Beck speculated that the real British Airways jet could then be blown out of the sky, allowing the stolen plane to "jump up" onto that flight path and cloak itself as the now destroyed jet and fly on to Washington, DC without raising any suspicions or setting off alarms.
It's such a ridiculous conspiracy theory that even Glenn Beck himself acknowledges it as such. But it's entirely the government's fault if anyone is willing to believe it.
"See, this is the problem," said Beck. "Once you lose trust as a government, once you lie to your people over and over again, this is what happens; conspiracy theories go crazy because I don't trust our government at all."
Clearly, Beck failed to recognize that, with this statement, he had pretty much flat out admitted that everything he has ever said in his entire career is utter nonsense; that he either has such a childish resentment for all things government that he would rather will himself to believe in ridiculous conspiracy theories than ever agree with a government report on even the most obvious of things, or the most likely explanation: That Glenn Beck is a serial liar.
Not that we haven't known this for years already, but it's an incredibly rare thing to see a conspiracy theory peddler get so wrapped up in detaching himself from reality that he accidentally ends up telling the truth.