Oh my, yes. One of my favourite books of the last few years. It's an expansion (well, really a continuation) of the story 'Have Not Have'; if you're intrigued by that, I'd say there's a good chance you'd like the whole book. (By way of comparison, I would say that V.A.O. is moderately good, but no more than that.)

Of course, if you want lush/dense/sensory writing, I should probably be telling you to read River of Gods by Ian McDonald, instead. I think Air is beautiful, but it's a beauty that comes from deftness and grace.