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Commercial Supersonic Airliner Raises $100 Million in Funding
J. Scott Clark
Contributor
Jan. 06, 2019
•
2 min read
Commercial Supersonic Airliner Raises $100 Million in Funding
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Boom Supersonic, a Colorado-based aviation company, announced on Jan. 4 that it has raised $100 million in capital during a Series B investment round. The new funding will allow the company to continue its work on "Overture," the company's supersonic airliner.
Commercial aviation has been without a supersonic service since the final flight of the Concord in 2003. Boom is looking to return supersonic travel to the masses. Overture will have 55 seats and travel at mach 2.2, which is slightly faster than the Concord but more than twice the speed of today's commercial planes.
According to Boom, airlines would be able to operate the aircraft charging roughly what business class seats cost today. Flight times between New York and London would take just over three hours, the company says, allowing for transatlantic day trips.
The announcement marks the latest investment in the company. Japan Airlines invested in Boom in 2017, and more recently the company saw an investment by Ctrip.
Boom is currently building a one-third scale working prototype that they say should fly later this year. The company is aiming for passenger service to begin in the mid 2020s. Boom already has 30 orders for Overture on its books. Both Virgin Group and Japan Airlines have preorders with Boom.
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Best for businesses with high spending
TPG Editor‘s Rating
Go to reviewCard Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
Rewards Rate
| 2X miles | 2 miles per dollar on every purchase |
| 5X miles | 5 miles per dollar on flights and vacation rentals booked through Capital One Business Travel |
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Earn 200K miles when you spend $30K in the first 3 months, and an additional 200K miles when you spend $150K in the first 6 monthsLIMITED-TIME OFFER: Earn up to 400K bonus milesAnnual Fee
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Credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.740-850Excellent
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The Capital One Venture X Business Card has all the Capital One Venture X Rewards Credit Card has to offer and more. It offers an incredible welcome bonus and requires an equally impressive spend to qualify. In addition, the card comes with premium travel perks like annual travel credit. (Partner offer)Pros
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- Enjoy a $100 experience credit and other premium benefits with every hotel and vacation rental booked from the Premier Collection
- This is a pay-in-full card, so your balance is due in full every month