In 3.5 hours, you can fly from New York to London. United Airlines will purchase 15 ultra-fast planes from Boom Supersonic, a start-up.

The jets might reduce the time it takes to fly from New York to London to three and a half hours.

On Thursday, a major American airline made a multibillion-dollar gamble on the comeback of luxury and business travel, signing a deal for a fleet of supersonic aeroplanes, 18 years after the Concorde airliner was retired.

United Airlines has agreed to buy 15 jets from Denver-based Boom Supersonic, with the option of buying another 35 jets. The agreement comes as airlines, who saw passenger numbers plunge as a result of the pandemic, have recently witnessed a resurgence, with airport security screenings hitting their highest levels in over a year.

While other airlines have placed supersonic jet preorders, United is the first to do so with a firm financial commitment, according to Boom CEO Blake Scholl. According to the terms of the agreement, United will purchase the Overture aircraft after they meet the airline's safety and environmental requirements.

The financial terms were not disclosed by United, but Boom executives claimed the Overture aircraft is valued at $200 million, making the purchase worth $3 billion.

Scholl stated, "This is a historic moment." “Since the 1970s, this is the first actual order of supersonic planes. “Supersonic has made a comeback in a huge way.”

The Concorde, the last commercial supersonic plane, was retired in 2003 after 27 years of service. While luxury, British Airways and Air France eventually folded due to exorbitant expenses and limited demand.

When the plane was retired, the average ticket cost around $12,000. A tragic collision outside of Paris in 2000 that killed 113 people, as well as heightened security concerns following the terrorist attacks on Sept. 11, 2001, were major factors.

Faster travel, notably by supersonic jet, has long piqued industrial interest, despite the fact that making it inexpensive and ecologically friendly has proven difficult.

The Overture jet could reach Mach 1.7, which is roughly twice the speed of today's fastest commercial jetliners. According to the business, a flight from New York and London would take 312 hours instead of the current 612 hours. The aeroplanes will carry 65 to 88 passengers in all business class seats, with service starting in 2029, according to Scholl.

While ticket pricing will be decided by airlines, Scholl expects flights to be around $2,500. According to United's announcement, the planes will also run on sustainable aviation fuel, making them "net-zero carbon from day one."

United said it is considering routes such as Newark to London or San Francisco to Tokyo, which could be completed in six hours rather than the current duration of more than ten. Overland supersonic travel is prohibited by Federal Aviation Administration restrictions.

United's transaction isn't their "first futuristic travel investment" of the year, according to Peter McNally, global sector lead for industrials, minerals, and energy at investment research firm Third Bridge Group. The airline stated in February that it had reached an agreement with Archer to create electric vertical takeoff and landing aircraft, which are battery-powered short-haul aircraft that would fly in metropolitan areas.

United may be able to recruit profitable business visitors as a result of the arrangement with Boom Supersonic, according to McNally. According to a Third Bridge study, 70% of business passengers would pay a premium to fly supersonic in business class, he claimed.

United CEO Scott Kirby said in a statement that the airline "continues on its journey to build a more innovative, sustainable airline," adding that "today's technological improvements are making it more possible for it to incorporate supersonic planes."

Given that Boom's jet has yet to be built or licenced by regulators, a process that might take years, the arrangement with United is a show of faith.

Aerion Supersonic, a Boom competitor, stated last month that it was ceasing operations due to “the current financial environment.” In March, the Nevada-based firm revealed details of its proposed AS3 supersonic aeroplane.

Boom will begin testing flights of a scaled-down version of the Overture, the XB-1, later this year or early in 2022, according to Scholl.

Since the Concorde's first test flights in the late 1960s, he noted, a lot has changed.

“Fifty years later, advanced computer-optimized aerodynamics are available. We've added new lightweight materials to the mix. We now have much enhanced engines that are both quieter and more efficient, as well as sustainable aviation fuel,” Scholl explained. “By combining these technologies, you can create a new generation of supersonic aircraft that is 75 percent less expensive to fly than the Concorde.”

The Concorde 205, one of the jets, is on display near Washington Dulles International Airport at the Smithsonian Institution's Steven F. Udvar-Hazy Center. Air France gave it to the museum as a gift.