NEW YORK, Feb 06 (Reuters): Boeing Co said on Tuesday it had made a significant investment in Aerion, a developer of supersonic planes, as the world's biggest planemaker looks to tap into rising demand for high-end business jets that can cut travel time.
The company will provide engineering, manufacturing and flight testing services for Aerion's $120 million supersonic business jet, Boeing said in a statement.
The jet, Aerion AS2, slated for its first flight in 2023, can fly at speeds of up to Mach 1.4, or about 1,000 miles per hour, 70 per cent faster than conventional business jets.
Both, Boeing and Reno, Nevada-based Aerion did not disclose the financial terms of the deal.
US startups Aerion, Boom Supersonic and Spike Aerospace are working to re-introduce supersonic passenger travel for the first time since Anglo-French Concorde retired in 2003.
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