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United Airlines to buy 15 planes from Boom Supersonic

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Yahoo Finance's Emily McCormick reports details on United Airlines’ purchase of ultrafast airplanes from Boom Supersonic.

Video Transcript

- Welcome back. We're going to get to United and their ultra fast airplanes in just a moment. But first, I do want to take a look at some of the action with AMC. Absolutely crazy trading day it has gone from in the negative-- remember, when I started the show, AMC was trading down about 13%. Completely erased those losses, as you can see. Up right now about 6%. So we will be keeping an eye on AMC and some of the other meme stocks throughout the show, but wanted to just give you an update on where AMC is right now in the trading session.

Now, imagine getting to London in under four hours. Now, that might sound like deja vu if you remember the Concorde. I definitely do. But United Airlines is trying to revive the ultra fast air transport. We have Yahoo Finance's Emily McCormick here with all the details on what we can expect from their version, I guess we can call it, of the Concorde.

Emily, it looks like a spaceship. I don't know if I'm interested in getting on it. Alexis has already said she wants to get on board, have a glass of champagne, be in London in about 3 and 1/2 hours.

EMILY MCCOMICK: Well, Kristin, United Airlines is at least making a big bet on supersonic transcontinental travel, essentially. And as you mentioned, getting around the globe might be quite a bit faster, at least with United Airlines, in the future.

Now, the company just said it will buy 15 of Boom Technology's supersonic Overture aircraft, with an option to purchase 35 more. Now, the deal is valued at an estimated $3 billion given the purchasing price of an Overture plane, and these will begin carrying passengers in 2029. And each one can carry about 88 people.

Now, these aircraft could dramatically cut down on flight time for overseas travel. Supersonic flight is currently banned over the Continental US, but flights that currently take around seven hours from New York to London could be cut down to just about 3 and 1/2 hours, for instance.

But to give a sense of just how fast these planes are, Overture's flight speed is about twice that of today's fastest airliners, since they would fly at about 1.7, or 1,300 miles per hour.

Now this, of course, as you were mentioning, Kristin, is not the first commercial aircraft that would be traveling above the speed of sound. The Concorde flew for about three decades until 2003, but was ultimately retire due to high maintenance costs, as well as fuel needs. The Overture, by comparison, is set to be about 75% cheaper than the Concorde was to operate. And once operational, the Overture is also expected to be the first large commercial aircraft to be net zero carbon from the first day of air travel, and it is going to be optimized to run on 100% sustainable aviation fuel.

So again, United really making a bet here on faster transcontinental flights, and something that you might be seeing here in the next decade. Kristin and Alexis.

- All right. Thanks so much, Emily McCormick, with all of those details. Again, I don't know if I want to get on that plane, Alexis. I remember how well the Concorde did the last time. There was an accident, and I don't know if I'm ready to get on a supersonic plane just yet.

- You know me, though, right? If I can get to where I need to go faster, I'm pretty much on board with that. It's like the New Yorker in me. Yeah.

- Well, they should be out before too long, so hopefully we can get some test flights going, see how it goes.