Boom Supersonic said it received a $10 million investment from Japan Airlines Tuesday as it looks to build a jet that could take travelers from NY to London in just over three hours, potentially zipping by commercial planes from giants Boeing (BA) and Airbus (EADSY). Boom Supersonic is based out of Denver, CO and is trying to make their big splash in the industry by 2020. Japan Airlines will also lend its knowledge and experience to help Boom develop its supersonic passenger aircraft, which could fly at a speed of Mach 2.2 (1,451 mph) and cut global travel times in half as soon as 2023. Under the agreement, JAL is collaborating with Boom to refine aircraft design and to "help define the passenger experience for supersonic travel", the companies said.
Japan Airlines (JAL) was founded in 1951 and became the first global airline in Japan.
If successful, the aircraft could take passengers from London to NY in just over three hours and from Sydney to Los Angeles in under seven hours. It also gets the option to purchase up to 20 Boom Supersonic aircraft through a pre-order arrangement - joining Virgin Group as an option holder.
Shaving off considerable travel time won't come cheap though. The Asian carrier is the second company to publicly announce an intention to purchase Boom's supersonic jet, after billionaire Richard Branson's Virgin Atlantic.
The company has said previously it expected fares to be similar to what is offered for business class travel now.
Boom is planning to test its designs on a one-third scale demonstrator plane in late 2018 and expects the planes to be delivered by the mid-2020s. "We're thrilled to be working with JAL to develop a reliable, easily-maintained aircraft that will provide revolutionary speed to passengers", he added. Boom's own jet will allegedly achieve higher speed and more efficient routes by spending the majority of its time over water. Having airline stakeholders closely involved in the development of its aircraft and service plans will work in practice is a huge boon for Boom, which is a very small company with very ambitious goals. We're excited to have an option on Boom's first 10 airframes.
JAL has actually already been working with Boom for over a year, according to Boom founder and CEO Blake Scholl, but this more clearly formalizes the relationship.
A file image of Her Majesty The Queen arriving in Kuwait by Concorde in 1979.