United Airlines, Inc. is flying into the world of supersonic travel and has announced a commercial agreement with Denver-based aerospace company Boom Supersonic to add 15 supersonic passenger jets with the option to purchase 35 at a later date.
At $200 million a pop, the deal is valued at more than $3 billion. Both companies will work together to ensure commercial operations of the plane, called "Overture," are ready by 2029.
"The companies will work together on meeting those requirements before delivery. Once operational, Overture is expected to be the first large commercial aircraft to be net-zero carbon from day one, optimized to run on 100% sustainable aviation fuel (SAF). It is slated to roll out in 2025, fly in 2026 and expected to carry passengers by 2029. United and Boom will also work together to accelerate production of greater supplies of SAF," read a United Airlines press release.
United said the planes are capable of Mach 1.7, nearly twice the speed of the fastest airliners. It will travel from Newark to London in just three and a half hours, Newark to Frankfurt in four hours, and San Francisco to Tokyo in just six hours.
Overture resembles the same shape of an Aerospatiale/BAC Concorde.
"The world's first purchase agreement for net-zero carbon supersonic aircraft marks a significant step toward our mission to create a more accessible world," said Blake Scholl, Boom Supersonic founder and CEO
"United and Boom share a common purpose—to unite the world safely and sustainably. At speeds twice as fast, United passengers will experience all the advantages of life lived in person, from deeper, more productive business relationships to longer, more relaxing vacations to far-off destinations," Scholl said.
While supersonic flight is forbidden over the U.S., the Federal Aviation Administration (FAA) published new regulations earlier this year to reintroduce civil supersonic flight.
Boom is trying to revitalize supersonic flight since the Concorde crash in June 2003 - Air France and British Airways have since retired their supersonic jet fleets.
Still, it remains to be seen whether Boom's plan can get off the ground. The first demonstrator jet called the XB-1 is slated for flight sometime this year.
Boom's story of "sustainable" and "carbon-zero" supersonic flight could become a great SPAC or meme stock story. Heck, they even have 15 "orders."
Paging, venture capital investor Chamath Palihapitiya...