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Strategic American Express Ventures investment in Boom Supersonic

Download: Printable PDF Date: 05 Mar 2021 11:22 (UTC) categories:
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Strategic American Express Ventures investment in Boom Supersonic - Finance publisher
Tatjana Obrazcova
Country: United States Aircraft: Airplanes

Boom Supersonic announced a strategic investment from American Express Ventures. The funds will support the continued development of Boom's flagship product, the supersonic airliner Overture. Overture is Boom's 65- to 88-seat supersonic airliner, capable of running on 100% sustainable aviation fuel. The supersonic aircraft is slated to roll out in 2025 and begin commercial flights by 2029. Built on the core principles of speed, safety and sustainability, Overture will fly twice as fast as conventional jets over more than 500 transoceanic routes worldwide. Boom currently has $6 billion in pre-orders of Overture aircraft.

"We're proud that Amex Ventures shares our commitment to making the world more accessible by bringing sustainable supersonic travel to passengers everywhere," said Blake Scholl, Boom founder and CEO. "2021 is a pivotal year for Boom. As we prepare to fly our supersonic demonstrator, XB-1, we are also accelerating Overture development."

"Boom is building a supersonic passenger aircraft that will make travel faster and more sustainable," said Harshul Sanghi, Global Head of Amex Ventures. "Travel has been a key part of American Express' heritage and it remains an integral part of our Card Members' lifestyles. We are excited to support Boom's development and invest in the future of travel."

Last October, Boom unveiled XB-1, the world's first independently developed supersonic jet, and a precursor to Overture. XB-1's first flight will be 100% carbon-neutral, and is slated to take place this year in Mojave, California.



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