Wired's Apple insider says it is. Their rendering is super skinny and shaped like a teardrop when it's closed, bulging at the hinge and tapering down to the edge. Ethernet ports are jettisoned in favor of wireless only—the most sensible explanation for the "Air" moniker yet. Aluminum casing, ultra-thin, all wireless—all reasonable given what's come out.

The much less likely bit is that the screen itself is multi-touch—trackpad, maybe—but obviously we'll see tomorrow.

Source- http://gizmodo.com/344813/is-this-the-macbook-air-most-plausible-yet