Boeing Takes a Stake in Supersonic Jet Maker Aerion

11:22 02/10/2019

American multinational corporation Boeing has disclosed recently that it has taken a big investment in supersonic jet developer Aerion.

Reno, Nevada-based Aerion is an American aircraft manufacturer that has projects that include the 8-12 passenger AS2 supersonic business jet, with key engineering support provided by Lockheed Martin.

Boeing said that it had made a "significant investment" in the company in an effort to look into high-end aircrafts that can shorten travel times.

Shares hit a record high after the news and opened for the first time over the $400 mark.

Boeing said it will provide engineering, manufacturing and flight testing services for Aerion's $120 million supersonic business jet. The first flight is expected to happen in 2023.

Aerion's Aerion AS2 jet can fly as fast as Mach 1.4, or 1,000 miles an hour, which is 70% faster than conventional business jets.

"Boeing is leading a mobility transformation that will safely and efficiently connect the world faster than ever before," said Boeing NeXt vice president Steve Nordlund.

"This is a strategic and disciplined leading-edge investment in further maturing supersonic technology. Through this partnership that combines Aerion's supersonic expertise with Boeing's global industrial scale and commercial aviation experience, we have the right team to build the future of sustainable supersonic flight."

No financial terms of the deal were disclosed.

As said in Boeing's press release, "Founded in 2003 to develop new, more efficient aerodynamic technologies for supersonic aircraft, Aerion introduced its AS2 12-passenger business jet design in 2014. The company unveiled the AS2's GE Affinity engine design in 2018."

"Aerion is the industry leader mapping out a successful, sustainable return to supersonic flight," said Tom Vice, chairman, president and chief executive officer of Aerion.

"The AS2 is the launch point for the future of regulatory-compliant and efficient supersonic flight. Together with Boeing, we're creating a faster, more connected future with tremendous possibilities for enhancing humanity's productivity and potential."0

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